Whole Foods is raising prices on some items and discontinuing others as it gets ravaged by rising costs (AMZN)


Whole Foods

Whole Foods has raised prices on some items while discontinuing others, according to a leaked email reported by the Wall Street Journal.
Of about 700 items with expiring contracts, the grocer says it has decided to stop selling about half and raise prices on less than 50.
In a statement to Business Insider, Whole Foods attributed the higher prices to rising material, packaging, and transportation costs.
Prices are a major focus point for Whole Foods as Amazon continues to battle the grocer’s “Whole Paycheck” image.

Prices are fluctuating at Whole Foods.

The organic grocer has raised prices on some items while discontinuing others, according to a leaked email reported by the Wall Street Journal.

A Whole Foods spokesperson said in a statement to Business Insider that the higher prices were due to rising material, packaging, and transportation costs.

The increase is due to some item-specific contracts expiring. Of about 700 items with expiring contracts, the grocer says it has decided to stop selling about half and raise prices on less than 50.

“Like all grocers, Whole Foods Market has experienced increased costs from suppliers due to materials, labor and transportation, and we’ve absorbed much of the inflation,” a Whole Foods spokeswoman said in a statement. “Many prices have also decreased, and we continue to expand the number of promotions we offer to give our customers better value.”

Read more: Amazon’s earnings included a negative number, but the company said it doesn’t matter

Of new contracts, more than 100 items are also seeing net price reductions, the spokesperson said. The items are chosen for renewal or promotion based on customer buying habits.

These new price changes come after the highly publicized price reductions Amazon made when it purchased Whole Foods in 2017. The price cuts were made to ease the grocer’s “Whole Paycheck” image …read more

Source:: Business Insider

      

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