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Amazon Prime jitters hit Target, Wal-Mart and Costco

Published 08/24/2017, 03:03 PM
© Reuters.  Amazon Prime jitters hit Target, Wal-Mart and Costco
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  • Analysts are in with quick reactions to the sharp drop in Wal-Mart (WMT -1.7%), Target (TGT -3.5%) and Costco (COST -4.1%) to news of Amazon (NASDAQ:AMZN) making some changes with Whole Foods as early as Monday.
  • The general feeling is that the development of Amazon Prime integrating in with the Whole Foods check-out system is catching the attention of investors more than some price breaks on organic food favorites. The impact of the Prime ecosystem on the grocery sector is considered a large wildcard.
  • Costco, Wal-Mart and Target all traded in positive territory before the Amazon news broke amid what began the day as a positive vibe in retail off a wave of solid earnings reports.
  • Previously: Amazon plans on lower prices at Whole Foods (Aug. 24)
  • Previously: Grocery sector reeling with Amazon hitting the ground running (Aug. 24)
  • Previously: Food stocks in reverse after Amazon pricing action (Aug. 24)
  • Now read: Dividend Champion Needs An Elementary Math Teacher


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