On Amazon buying Whole Foods: 'The ramifications for all of retail are seismic'

When Kroger (KR) dropped 18% on Thursday following disappointing first quarter results, CEO Rodney McMullen acknowledged straight-on challenges in the industry.

“There is a lot of change in the food retail industry, both in terms of the operating environment and the competitive landscape,” he said. “We know there is a lot of upheaval in the food retail industry.”

On Friday, that remark became a historic understatement.

Kroger shares fell another 14% on Friday morning after Amazon (AMZN) announced it would acquire Whole Foods (WFM) for $13.7 billion or $42 per share.

“The ramifications for all of retail are seismic—not just retailers that sell grocery, but for everyone,” according to Gordon Haskett’s Chuck Grom.

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Storms Cloud Economic Growth: Hurricane Harvey's unexpected economic fallout, and Irma's pending landfall, have analysts on edge.

As cleanup efforts begin in the aftermath of Hurricane Harvey's record-setting rainfall over Houston, Corpus Christi, Texas, and the surrounding Gulf region, analysts are still trying to figure out exactly how severely the deluge dinged the U.S. economy's overall trajectory. 

Gas prices spiked as oil refineries were forced offline. Trade through Gulf ports was stalled or rerouted, in some cases raising prices for shippers and consumers as products took longer to get to their intended destinations. And local businesses were ravaged by floodwaters and lost foot traffic as community members evacuated and were unable to return to their homes.

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The good, bad and downright offensive in Morneau’s tax-reform proposals

So you finally agreed to meet the tax accountant that everyone has been talking about. “He reduced my tax bill by thousands of dollars,” your neighbour says. “And it’s all perfectly legal.”

You live in the province of Quebec, and are married with two children, ages 19 and 22, both attending university. You are self-employed and earn $150,000 a year. Your husband works for a larger company, and has an annual salary of $50,000. Last year, you and your husband paid combined federal-provincial taxes of about $66,400, including Quebec Pension Plan and health-care levies.

You sit down with the tax adviser. “The amount of tax that you’re paying is ridiculous,” he says. Then he shows you … “The Plan.”

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Women's thoughts...

With this edition, we will start a monthly section devoted to issues related to women. Our team member, Christine Venne, will provide us with topics of concern that we are sure will be of interest.

Women & money: How to take charge

It is estimated that about 90% of women will have to manage their finances at some point in time during their lives. How does one prepare? First, by increasing your knowledge of financial planning and investments: there is no specific age to start and it's easier than you think. You will be more confident when making decisions about your investments. Maximizing savings, using business plans or through automatic savings programs are excellent ways to accumulate wealth. Find an attentive, competent, clear and independent expert who will inspire you with confidence: she/he will be able to adjust your financial plan according to the evolution of your needs over time. Identify a trusted friend with whom you are comfortable talking about money matters. Discuss your goals and your investments ... you'll see how motivating and inspiring it is! Joining social media allows you to benefit from expert advice, and you can also benefit from the experience of other women who make investments just like you. Remember, it is by making investments that you will succeed in building your nest egg, which will enable you to reach and take full advantage of your life goals..

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