Amazon stock up on Whole Foods Expansion Plans

Amazon.com (AMZN) shares reached Monday after a report, the company plans to expand its US Whole Foods grocery stores. The Amazon share has increased more than 2% in recent measures.

The e-commerce giant aims to add places in suburbs and other areas where the organic grocery store adds more customers. The report comes from the Wall Street Journal, which cited a person familiar with the plans. The move will allow more customers to obtain the Amazon Prime Two-hour delivery service.

The Amazon spokesman could not be reached immediately.

Amazon has pushed to expand into $ 840 billion grocery since buying whole foods for $ 13.7 billion in 2017. Amazon has used discounts to entice premieres to physical Whole Foods stores.

Now, it needs more stores that are closer to more people, according to a recent report from Sense360. Amazon's Prime Now service offers food delivery in as little as one hour in more than 60 cities.

Amazon intends to expand delivery and pickup services to almost all its more than 400 Whole Foods stores in the US, Journal said.

Despite the investment in stores, the number of Amazon Prime members shopping for groceries reduced at least once a month in 201[ads1]8. This compares to 2017, according to an annual UBS consumer survey.

Journal reported Whole Foods employees have looked at potential outlets in the Rocky Mountain region. These include locations in Idaho, southern Utah and Wyoming. Some of these areas were about 45,000 square meters, according to the report.

In the afternoon action, Amazon shares climbed 2.4% near 1.513.