Last week, we reported that Amazon made its grand entry into grocery business by buying Whole Foods for $13.7 billion.
This purchase had an immediate on the stock of other retailers. Walmart sank 6.2 percent to $74.03, Kroger was the biggest loser down 14 percent; while Sprouts Farmers Market was off nearly 10 percent.
Now, it seems the heat has gotten to Walmart. According to reports, Walmart has allegedly told trucking companies that it will no longer do business with them if they continue moving goods for Amazon.
However, a Walmart spokesman denied that the company has had discussions with trucking companies about not doing business with them, adding that “it would be illegal for us to tell them who they can do business with.”
Whatever the case maybe, there is no denying that the entry of Amazon into the grocery business is getting to Walmart.
