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Amazon Rationalizing Whole Foods Market Stores

05/10/2022

Egg-NewsIn a May 3rd announcement, Amazon confirmed the intended closure of six stores located in Alabama, California, Massachusetts, and Illinois.  Decisions were presumably based on performance and growth potential.

 

In contrast Whole Foods Market has opened six stores year to date in high-income suburban areas.  The District of Columbia and Sherman Oaks location incorporate Just Walk Out™ technology.

 

Egg-NewsAccording to the Amazon Q1 Financial Report, Whole Foods stores operate 514 supermarkets in 43 U.S. states, 14 in Canada and 7 in the U.K.  Although specific financial performance of Whole Foods Market is not reported, brick and mortar stores posted a 17 percent increase in Q1 compared to the corresponding quarter of FY 2021 with revenue attaining $4.6 billion.