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Whole Foods price cuts have an impact

Published 10/03/2017, 07:12 AM
© Reuters.  Whole Foods price cuts have an impact
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  • Data tracking firm Thasos Group publishes a report on the impact of the price cuts at Whole Foods (NASDAQ:AMZN) fired off on August 28.
  • Foot traffic was down 4% Y/Y at Whole Foods stores for the week following the pricing move, but was elevated in comparison to the three weeks before the action.
  • While the largest percentage of Whole Foods customers during the week were regular shoppers from Wal-Mart (NYSE:WMT), Kroger (NYSE:KR) and Costco (NASDAQ:COST), on a percentage basis adjusted for stores chain size it was Trader Joe's and Sprouts Farmers Market (NASDAQ:SFM) that saw the biggest impact.
  • Thasos says "customer defection rates" remained elevated for all the chains through September 16.
  • Now read: Who's Going To Buy Sprouts?

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