AMZN image, Inc. (AMZN) Announces Price Cuts At Whole Foods On Holiday Staples

AMZN – Amazon is engaging in another round of price cuts at its Whole Food supermarkets just in time for the holidays., Inc. (NASDAQ:AMZN) just announced another round of price cuts at its Whole Foods chain of supermarkets, in an effort to boost holiday shopping traffic.

CNBC has more details on the discounts:

Customers will be able to purchase organic or non-antibiotic turkeys at a reduced price of $3.49 per pound and $2.49 per pound, respectively. Members of Amazon Prime will save an additional 50 cents per pound on both varieties, the company said in a release. A Whole Foods representative told CNBC that cashiers will identify Amazon Prime members when customers present coupons sent via email.

The company didn’t say how much of a discount it was offering.

“We’re just getting started” on reducing prices after the Amazon buyout closed in August, Whole Foods CEO John Mackey said in a statement. “We’ll continue to work closely together to ensure we’re consistently surprising and delighting our customers while moving toward our goal of reaching more people.”

Other products like chicken breast, shrimp, canned pumpkin, specialty potatoes, and more will also be seeing price cuts. Amazon didn’t say how long the price reductions would last, but it’s safe to assume they’ll stick around at least through Christmas.

Earlier this year, Amazon permanently lowered prices on key items like produce and fish in order to help shed the natural supermarket chain’s “Whole Paycheck” image. The e-commerce giant closed its acquisition of Whole Foods back in late August., Inc. shares were trading at $1,124.46 per share on Wednesday afternoon, down $12.38 (-1.09%). Year-to-date, AMZN has gained 49.95%, versus a 16.59% rise in the benchmark S&P 500 index during the same period.

AMZN currently has a POWR Rating of A (Strong Buy), and is ranked #3 of 50 stocks in the Internet category.

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