Amazon considering launching a new grocery store

According to a recent report in the Wall Street Journal, Amazon is considering expanding its brick and mortar presence by launching a new chain of grocery stores. Amazon acquired Whole Foods in 2017 for $13.7B, its largest acquisition to date. Amazon reportedly seeks to differentiate the two by offering a wider assortment than Whole Foods and has reportedly signed leases in two locations. There is also speculation that Amazon may acquire some smaller, regional grocery chains, specifically those with around a dozen locations. With the announcement, shares of Kroger, Costco, Target and Walmart (currently the largest grocer in the country) dipped sharply. Amazon has declined to comment on the report.
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