![]() “We believe as Amazon further integrates Whole Foods into the Prime ecosystem, it will more fully enter the Prime flywheel, increase customer spend and engagement over time,” wrote SunTrust Robinson Humphrey analysts. See: Amazon earnings explode to record thanks to surprising e-commerce profit, stock gains ![]() It is now projected to be the first company to reach the $1 trillion market-capitalization mark. The company had never previously reported quarterly profits of $2 billion. Morgan rates Amazon stock overweight with a $2,200 price target, up from $1,900.Īmazon’s price target was raised by at least five analyst firms following the company’s record earnings announcement, in which it reported net income of $2.5 billion. “We believe Amazon continues to show strong ability to take share of overall e-commerce, and its flexibility in pushing first-party versus third-party inventory and its Prime offering both serve as major advantages,” J.P. Morgan estimates that Whole Foods revenue accelerated 7% year-over-year. “Since 2Q Amazon has expanded Prime Now delivery to reach 20 cities and growing, rolled out Prime as the rewards program nationwide, and offered numerous promos at Whole Foods in the week leading up to Prime Day,” they wrote. Morgan analysts highlighted the Whole Foods adoption in its latest note. “We have a traditional grocery store now with Whole Foods, and then we have the combination of those two with home delivery, and we’re using Prime Now or Whole Foods products through Prime Now to make those deliveries, as well as the new kind of stores with Amazon Go that we’re experimenting with,” he said. Olsavsky also detailed the ways in which Whole Foods blends the traditional grocery experience with the e-commerce experience. This follows Amazon’s Unbox Amazon Prime Day initiative, which took place yesterday, and included a screening of Paddington 2, meet and greet with Paddington bear, a reading and Q&A with author of First Man in: Leading from the Front Ant Middleton, and an intimate gig with Take That.How everything around you could soon turn into a subscription Members can also win exclusive prizes by hunting for Whole Foods-branded balls in an adult-only ball pit. Whole Foods is offering Prime members access to deals and experiences for 36 hours, including on everyday grocery lines and homeware, as well as access to a pop-up VIP lounge at the Whole Foods Kensington branch, which includes complimentary beauty treatments, refreshments, DJs and glitter artists using biodegradable products. What the Whole Foods tie-up will mean for Amazon The day, now in its third year, is designed to showcase the entertainment benefits of an Amazon Prime membership, and this year includes various discounts and perks across Whole Foods’ London stores. The health food retailer, acquired by Amazon last year for £10.3bn, is expanding on the global deals offered on Amazon’s website, which includes sales on over a million products for 36 hours from midday today. Whole Foods Market is hosting one-off events and offering exclusive perks for Amazon Prime members to mark Amazon Prime Day for the first time. The Grocer New Product & Packaging Awards.Lumina Intelligence: UK Food & Drink Reports.
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