Kroger Proves There's Life After Amazon/Whole Foods

Kroger Proves There's Life After Amazon/Whole Foods

Back in June, analysts were getting ready to write Kroger's(NYSE: KR) obituary. Shares of the supermarket giant fell 26% over a two-day span after the company first reported a dismal earnings report and then got whacked by news that Amazon.com (NASDAQ: AMZN) was buying Whole Foods Market.

The news sent shockwaves across the grocery industry, but Kroger, as the nation's largest traditional supermarket operator, seemed to have the most to lose given Amazon's reputation for cutthroat competition and slashing prices. However, Kroger's third-quarter earnings report shows the company is back on track, despite Amazon's implementing significant discounts when it took over Whole Foods back in August. 

Image source: Getty Images.

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Source: Fool.com