Walmart continues to have lowest overall prices, momentum that will likely be unscathed by Whole Foods’ price cuts, Bank of America Merrill Lynch analysts wrote in a Tuesday report. Kroger narrowed its gap with Walmart with an average premium of 7%, the analysts said. Sprouts Farmers Market had an average premium of 8%, while Whole Foods prices were the highest at 34% above Walmart — a percentage point higher than the previous 3-4 years of studies.
“We continue to believe that Amazon is not having an impact on Walmart’s grocery momentum,” Bank of America analyst Robert Ohmes said.
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