Amazon is cutting prices at Whole Foods again

<p><a href="http://phx.corporate-ir.net/phoenix.zhtml?c=176060&p=irol-newsArticle&ID=2295514" target="_blank">On Thursday, Amazon said</a> its latest acquisition, Whole Foods, will slash prices of its more popular items starting next week.   </p><p>That same day, stocks for several major grocers plummeted.</p><p>Because even the possibility of having to compete with the retail giant is terrifying.</p><p>The news led to an almost $12 billion drop in the market. And Jeff Wilke, Amazon Worldwide Consumer CEO said in a statement, "This is just the beginning." The company also <a href="https://www.cnbc.com/2017/08/24/amazons-new-whole-foods-discounts-wipe-out-10-billion-in-market-value-from-grocery-sellers.html" target="_blank">plans to let Amazon Prime</a> benefits go toward Whole Foods products.</p><p><b>SEE MORE: <a href="https://www.newsy.com/stories/amazon-market-value-drops-6b-after-president-trump-tweet/">Amazon Stock Responds To Trump Tweet With A Multibillion-Dollar Drop</a></b></p><p>In June, Amazon said it was set to <a href="https://www.newsy.com/stories/amazon-set-to-buy-whole-foods-for-13-7-billion/" target="_blank">acquire Whole Foods</a>. But there was some concern the company would gain an unfair competitive advantage.</p><p>At $13.7 billion, the Amazon/Whole Foods acquisition is the biggest retail deal of the year. </p><p>But a <a href="" target="_blank">Federal Trade Commission</a> probe into whether that acquisition should be allowed to happen <a href="https://www.newsy.com/stories/amazon-set-to-buy-whole-foods-for-13-7-billion/" target="_blank">was shut down</a> Wednesday. </p><p>Whole Foods items are typically more expensive to begin with, so it isn't clear how competitive it'll be after the potential cuts. </p><p>And it's also probably important to note that Whole Foods and chains like Walmart tend to target different demographics, so customers aren't necessarily going to jump ship.</p><hr><b>Trending stories at <a href="http://www.newsy.com">Newsy.com</a></b><ul class="inline-related-links"><li><a href="http://www.newsy.com/stories/mcdonald-s-to-limit-antibiotic-use-in-its-chicken-globally/">What McDonald's Is Doing To Look Out For Your Health</a></li><li><a href="http://www.newsy.com/stories/ftc-ends-probe-into-amazon-over-whole-foods-deal/">Amazon Has Cleared A Hurdle In Its Acquisition Of Whole Foods</a></li><li><a href="http://www.newsy.com/stories/google-walmart-partner-for-voice-activated-shopping-venture/">Google And Walmart Unite To Steal Amazon's Thunder</a></li></ul>