Sprouts Ended Amazon Prime Now Delivery Partnership
May 7, 2018 | 1 min to read
LOS ANGELES – Sprouts Farmers Market Inc (SFM.O) said on Thursday it ended its Prime Now delivery partnership with Amazon.com (AMZN.O) on May 1 and cut its full-year sales targets, sending shares of the U.S. supermarket chain down almost 12 percent.
The partnership was struck before Amazon bought rival specialty grocery Whole Foods Market for $13.7 billion last summer. Amazon Prime Now had delivered from 15 of its 298 Sprouts stores.
“The transition will impact comps for the next several quarters, but we remain very confident about growing our home delivery business as it brings a unique health and value proposition to our customers,” Chief Executive Amin Maredia said on a conference call with investors.
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