Amazon's (AMZN) Whole Foods Market eyes Sears, Kmart sites for expansion

NASDAQ: AMZN | Amazon.com, Inc. News, Ratings, and Charts

AMZN – Although bankrupt Sears has closed 123 stores and 205 Kmart stores over the last 3 years, the co. still has more than 400 stores that could be acquired in a liquidation auction.


Amazon’s Whole Foods Market unit is considering picking up some Sears and Kmart locations to expand, Yahoo Finance reported.

Although bankrupt Sears has closed 123 stores and 205 Kmart stores over the last three years, the company still has more than 400 stores that could be acquired in a liquidation auction.

While Whole Foods Market operates more than 470 stores around the country, its market share – compared to much-larger rivals like Kroger and Walmart – remains small.

“There are lots of vacant retail space that they can take advantage of, and that gives them access to reasonable retail locations, but I also think they want to secure good real estate deals by filling voids and getting good rental levels from landlords,” Neil Saunders, managing director of retail at GlobalData, told Yahoo Finance.

Earlier this week in Dallas, Jim Sud, executive vice president of growth and business development at Whole Foods, said the company is considering a strategy of acquiring existing retail locations.

“First and foremost, we’re looking for the best location we can find. So if that’s an existing center–second-generation space — that meets all of our criteria… we’ll jump all over it,” Sud said.


Amazon.com Inc. shares rose $0.04 (0.00%) in after-hours trading Friday. Year-to-date, AMZN has gained 9.23%, versus a 3.63% rise in the benchmark S&P 500 index during the same period.

AMZN currently has a StockNews.com POWR Rating of C (Neutral), and is ranked #8 of 54 stocks in the Internet category.


This article is brought to you courtesy of FOX Business.

AMZN at a Glance

AMZN Current POWR Rating™
Overall POWR Rating™
AMZN Current Price $1,696.20 0.18%
More AMZN Ratings, Data, and News

AMZN Price Reaction

The day of this event (Jan. 11, 2019)
AMZN Closing Price$1,640.56 0.95%
AMZN Volume4,686,200
18.32% from avg
Leading up to this event
AMZN 1-mo return0.79%
After this event
AMZN 1-day return2.41%
AMZN 3-day return1.64%
AMZN 5-day return2.36%

AMZN Price Chart


The Top Stocks For 2019

More Amazon.com, Inc. (AMZN) News View All

Event/Date Symbol News Detail Start Price End Price Change POWR Rating
Loading, please wait...
View All AMZN News
Page generated in 0.5881 seconds.