AUSTIN (KXAN) — Could Walmart scoop in and snatch Whole Foods out of Amazon’s claws? It could happen, according to JPMorgan.
Business Insider reports as Whole Foods’ stock is rising since the announcement of the Amazon deal, investors believe the price for Whole Foods could continue to increase. JPMorgan says Walmart would be likely to consider Whole Foods to add new, wealthier customers.
“I think there certainly is a chance because they can come in and offer more money, if that’s an attraction,” says Eric Webber, PR director at McGarrah Jessee. “And there are some things Walmart brings to the table in terms of technology and distribution they already have that could possibly benefit Whole Foods.”
Competitors like Target, Costco and Kroger have been rumored as potential buyers, but JPMorgan says Walmart is the only company with the financial capability to compete.