Whole Foods CEO: The chain is investing in value and technology — with help from Amazon [Yahoo! Finance]
Amazon.com, Inc. (AMZN)
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Source: Yahoo! Finance
"We've increased the number of promotions for our customers ... as a result, we've actually seen double digit unit growth in promotional items," CEO Jason Buechel told Yahoo Finance at the Milken Institute Global Conference on Tuesday. Believe it or not, it's been seven years since Amazon ( AMZN acquired Whole Foods . Cutting prices to reaccelerate same-store sales growth was a key focus for the Street at the time. Now Buechel is aiming to strike the right balance. Cost of groceries remained flat in March, and is up 1.2% year over year, according to the Bureau of Labor Statistics. The April read on CPI (consumer price index) is set to come out next week. "Between commodities, labor, cost — inflation has been real," Buechel said. While Whole Foods shoppers, who are traditionally higher-income, are looking for cheaper prices, they aren't willing to compromise on quality, Buechel said. They care about where the product was grown, raised, and produced, which comes at a higher c
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AMZN
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- 4/30/24 - Beat
AMZN
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- 5/17/24 - Form 4
- 5/17/24 - Form 4
- 5/17/24 - Form 4
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