Source: Katherine Peralta, CHARLOTTE OBSERVER, 6/16/17

Online retailer Amazon.com said Friday it is buying the upscale grocery chain Whole Foods Market for $13.7 billion, a move expected to heat up competition in Charlotte’s already aggressive grocery-store industry. The deal escalates Seattle-based Amazon’s push into the grocery business and ratchets up its rivalry with retail giant Wal-Mart Stores, which has been working to boost its online sales. Wal-Mart shares slumped Friday after the announcement, as did shares of grocer Kroger, the parent of Matthews-based Harris Teeter.

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