Is Amazon the new Walmart? Don’t count the big box retailer out just yet, former Walmart US CEO Bill Simon told the FOX Business Network’s Stuart Varney on Wednesday.
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“[Amazon is] a total beast …. They’ve been able to get and gain momentum and I think really now we’re at a place where the only people that might be able to stop them is Walmart. These two titans are going head-to-head,” Simon said.
Earlier this week, newly public meal-kit company Blue Apron tumbled below its IPO price, closing at an all-time low on Tuesday after news that Amazon registered a trademark for the slogan, “We do the prep. You be the chef.” Shares were up slightly from the low on Wednesday.
Simon said Amazon’s trademark filing was to blame for the tumble.
“Blue Apron is, you know, just in its infancy, just IPO’d, a really neat idea -- and Amazon sees it and says, ‘I want it,’ and they launch it and trouble on the horizon,” he said.