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.
“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.