Retail

Whole Foods CEO John Mackey on efforts to reduce grocery prices

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Whole Foods CEO John Mackey told CNBC on Tuesday that the Amazon-owned grocery chain remains committed to reducing its food prices, building off a series of previous cuts.

“We’re going to continue to lower our prices over time at Whole Foods,” he said on “Power Lunch.” “Cut our costs, lower prices, get more business, lower prices, cut costs, and so I think we’re in a virtuous circle right now.”  

Mackey, who co-founded the pioneering organic grocer 40 years ago, credited synergies with Amazon for being a key driver of the price reduction. The e-commerce titan acquired Whole Foods, which has long carried a reputation of being expensive, for $13.7 billion in 2017

“We’ve made three…



Source cnbc.com

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