Whole Foods still has the highest overall prices among U.S. food retailers, despite the widely publicized discounts the Amazon-owned grocer made in April.
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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