Local News
Does Kroger Want to Buy Whole Foods?
There’s chatter that Kroger might be trying to buy out Whole Foods. The rumor’s fire was fanned by last week’s movement in the stock market.
USA Today reports, “The ailing Austin-based chain of natural foods supermarkets saw its shares jump 4.9% to close at $29.33 on Thursday. During Thursday’s trading session, four times the average number of shares changed hands, often a reflection of increased demand for the stock. Kroger shares also climbed 1.8% to close at $29.37 in healthy trading as well.” But many are saying this isn’t enough to make any wild claims about Kroger going after Whole Foods.
Whole Foods sales have dropped for the last four quarters and are expected to continue to decrease. The company has taken a lot of heat for their prices, and jokes about the store’s expensive taste have become common online and on TV shows, and sometimes the jokes write themselves. Who could forget the viral photo of “asparagus water” sold for $6 a pop?
https://www.instagram.com/p/57PD0DBEP6/
The company made a statement that the asparagus “broth” product was not made correctly and wasn’t meant to be shelved, but the internet never forgets.
Like CNN notes, many are doubtful when it comes to the buyout. Traders, Publix, and Albertsons were all rumored to obtain Whole Foods at some point. Since Kroger already has an organic brand of their own, they may not be interested in taking on Whole Foods. For now, neither leaders from Kroger nor Whole Foods have released a statement regarding the speculation.
