A year ago, the food industry was forever changed when tech giant Amazon announced it would be acquiring the high-end grocery chain, Whole Foods for $13.7 billion.
Amazon CEO Jeff Bezos went to great lengths to keep the deal a secret.
Kroger's stock dropped from $31 to $22 at the time of the acquisition and now it trades at around $24.
Kroger recently invested in the meal kit company Home Chef. Target bought Shipt, a delivery company. Albertsons bought another meal kit company, Plated. All done by grocery rivals to stay competitive with Amazon.
At the time of the acquisition, Whole Foods same-store sales were declining 1.5 percent, so it's safe to say, the chain needed to be revamped.
Then Amazon started to sell its products like the Echo in store and started offering free delivery for Prime members.Read More