Whole Foods realizes it's still expensive, cuts prices again

An employee rearranges boxes of frozen food during the grand opening of a Whole Foods Market Inc. location in Burbank California U.S. on Wednesday

Whole Foods realizes it's still expensive, cuts prices again

Get excited: Whole Foods Market is slashing prices starting this Wednesday-and nope, the discounts aren't just for Amazon Prime members (who already receive 10 percent off discounted products, along with other periodic perks).

Beginning Wednesday, Whole Foods said customers will find lower prices on hundreds of items throughout the store with an emphasis on seasonal produce, including greens, tomatoes, tropical fruits and more. The latest round of cuts comes amid intense competition in the grocery sector and the high-price image that still continues to plague Whole Foods.

Kingsview Asset Management CIO Scott Martin, FBN's Susan Li, River Twice Capital President Zachary Karabell and Barron's senior editor Jack Hough on how Whole Foods cut its workers hours after Amazon raised its minimum wage to $15.

For instance, in April, Prime members will save an extra $2 on organic asparagus and strawberries, both $2.99 per pound, and will get 40 percent off air-chilled, no-antibiotics whole chickens for $1.79 per pound.

"Customers have saved hundreds of millions of dollars through lower prices and Prime member deals", Whole Foods said in a press release.

WSJ reported that these cuts will include more than 500 items and could last through the end of the year.

"Every time a customer walks into a Whole Foods Market, they expect and trust industry-leading quality standards across aisles", said Jeff Wilke, CEO of Amazon Worldwide Consumer, in a statement.

Over the next few months, customers can expect more than 300 Prime member deals on popular items as well as an additional 10 percent discount on hundreds of sale items. New members can try Prime free for 30 days. Amazon, which bought Whole Foods for nearly $14 billion in 2017, previously had boosted prices earlier this year because of inflation.

Amazon acquired Whole Foods in an effort to catch Walmart Inc., Kroger Co. and Costco Wholesale Corp.in grocery sales.

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