Nearly $29 Billion In Market Cap Wiped From Amazon's New Rivals In Grocery Space

By Steve GoldsteinMarketsMarketWatch Pulse

Amazon's dramatic push into the grocery space with its planned acquisition of Whole Foods has wiped nearly $29 billion from the aggregate market cap of rivals in the grocery category. Wal-Mart Stores lost over $14 billion in market value, Costco's market cap fell by more than $5 billion, and Target and Kroger each saw a reduction of more than $3 billion. U.S.-listed shares of Ahold Delhaize , which owns U.S. chains including Giant and Food Lion, saw its value drop by nearly $2 billion. Smaller rivals including Supervalu , Sprouts and Weis Markets also nursed heavy losses.

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