Amazon’s Whole Foods buy removed nearly $22 billion in market value from rival supermarkets

Amazon’s Friday morning announcement that it was acquiring Whole Foods sent the high-end grocery’s stock soaring. This was bad news for Whole Foods’ grocery competitors, which now face a fierce battle with Amazon.

Target, Kroger, Costco, Walmart, Dollar General, SuperValu and Sprouts lost a combined market value of $21.7 billion in one day — 6 percent of their total worth, according to data from FactSet.

Whole Foods, on the other hand, gained more than $3 billion in market cap, up 29 percent, from Thursday to Friday — nearing its $13.7 billion purchase price.

This article originally appeared on Recode.net.

Will you join us?

Our biggest supporters are our readers — and we’re so grateful to everyone who has made a contribution during our September campaign. We’re less than 1,000 contributions away from reaching our goal for the month, which in turn will allow us to say yes more often when our incredible journalists come to us with questions they want to answer and projects they want to pursue. Will you make a contribution before the month ends and support our policy coverage through 2024 and beyond?

One-Time Monthly Annual

$5/month

$10/month

$25/month

$50/month

Other

$

Yes, I'll give $5/month

Yes, I'll give $5/month

We accept credit card, Apple Pay, and Google Pay. You can also contribute via