Expedia holidays Hilton Hotel discount code Premier Inn promo codes 2017 Post-a-Rose Discounts
Something ugly happened to Albertsons Companies, Inc. (NYSE:ABS), the owner of Albertson's, Safeway, and smaller supermarket chains totaling 2,329 stores, 27 distribution centers, and 18 manufacturing facilities: Amazon (NASDAQ:AMZN), on its first day as new owner of Whole Foods, slashed prices on many items by the double digits, some of them by over 30%, and reportedly by up to 43%.
Ferocious price competition from Amazon – a stock-market darling that doesn't need to make money on grocery sales – is the last thing Albertsons Companies needs.
But that's what it got. Amazon's $13.7-billion acquisition of Whole Foods and the price cuts slammed all grocery store chains, and their shares took a beating, but Albertsons Companies is particularly vulnerable, and this comes at a very inconvenient time.
To read the rest of the story, please go to: Seeking Alpha
