
The Amazon-Whole Foods deal cost Walmart, Costco, and Kroger $18.8 billion in market value
$18.8 billion
Walmart, Costco, and Kroger lost $18.8 billion in market capitalization on Friday (June 16), after Amazon announced it would buy Whole Foods.
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| Photo by Reuters/Shannon Stapleton 
The news that Amazon was backing a competitor caused drops in retailers’ stocks—Walmart fell by 5%, Costco by 7%, and Kroger by 9%.

Their combined market value went from $338 billion on Thursday to $320 billion on Friday.

Besides affecting direct competitors, the Amazon-Whole Foods deal also hit food makers, like Hershey, Campbell Soup, and Kellogg.

Traders expect those companies to suffer further if Amazon cuts prices at Whole Foods.


Reuters/Carlo Allegri
