Years from now, we may look back on Friday, June 16, 2017, as the day retail changed forever. That morning, Amazon (AMZN) announced it was buying Whole Foods (WFM), surprising analysts, investors, and shoppers alike. Several retail stocks peddling groceries took a hit that day, and many haven't yet recovered. As of this writing, Kroger (KR) is down 21%, Costco (COST) has dropped 15%, Target (TGT) has lost 5%, and the list goes on.
As the merger works its way through government approvals (antitrust enforcers will decide whether to give it the OK by the end of August), many investors are wondering if their now-beaten down grocery store stocks will ever rise again.
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Bryan Borzykowski does not own shares in any of the securities mentioned above. Find out about Morningstar’s editorial policies.