Amazon.com Inc. (AMZN) Focused on Growing Grocery Business

Amazon.com Inc. (NASDAQ:AMZN) is one of the top stock picks in Ken Griffin’s portfolio. On August 27, the company reiterated plans to integrate its grocery business more closely. Consequently, it plans to extend corporate staff programs, including pay structure and benefits to employees at its Whole Foods chain supermarkets.

The consolidation will see the e-commerce giant offering a 10% discount code on Amazon merchandise to Whole Foods employees. The employees will also gain access to the company’s online portal that offers deals on phone plans, car insurance, travel, and entertainment. The move is part of an effort to streamline collaboration across divisions.

The integration also comes as Amazon increasingly sharpens its focus on its grocery offerings in the US. It’s also expanding its Prime fast-delivery option to perishable food items. It’s also expanding its grocery offerings to new cities to better compete against Walmart, Kroger, and Instacart. Amazon is also in the process of investing $4 billion in expanding its delivery network in the US by the end of 2026.

Amazon.com Inc. (NASDAQ:AMZN) engages in the retail sale of consumer products, advertising, and subscription services through online and physical stores. It also offers cloud computing services through Amazon Web Services.

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Disclosure: None. This article is originally published at Insider Monkey.