Seven months after grocery stocks tumbled on the news of Amazon’s (AMZN) huge acquisition of Whole Foods, $25 billion supermarket chain Kroger (KR) is bouncing back.
During a recent Kroger presentation, Hedgeye Consumer Staples analyst Shayne Laidlaw explains that the supposed imminent death of supermarkets appears overblown.
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“Amazon is not taking over grocery any time soon,” Laidlaw says in the video above. “Kroger and other competitors aren’t sitting still. They’re expanding and growing their convenience points.” |
Combine that with recent supply issues at Amazon-owned Whole Foods, as well as a glitchy start for its AmazonGo store in Seattle, and Laidlaw sees no reason why Kroger can’t successfully fight back.
Watch the full video above for more.
