- Supermarket chain Whole Foods Market, a subsidiary of Amazon.com Inc (NASDAQ:AMZN), reportedly plans to construct commercial kitchens.
- Operation of self-owned kitchens will likely help Whole Foods with better quality control in its prepared-foods business, the WSJ reported.
- It is to be noted that Whole Foods Market outsourced its food production to cut costs.
- Whole Foods Market has bakehouses in Colorado and Florida. It is also planning to buy existing kitchens, the report added.
- Apart from region-specific items, Whole Foods has a team to prepare ready-to-eat and prepackaged meals.
- With an idea to expand its prepared-foods business, the company has launched catering services, expanded its bakeries’ cake lineups, and selling meals online.
- Before being acquired by Amazon, Whole Foods closed three commercial kitchens in an effort to ramp up efficiency in its operations.
- Price Action: AMZN shares are trading lower by 0.57% at $101.48 in premarket on the last check Monday.
Dow Jumps Over 200 Points; Hibbett Posts Upbeat Earnings
U.S. stocks traded higher this morning, with the Dow Jones gaining more than 200 points on Friday.
Following the market opening Friday, the Dow traded up 0.69% to 34,336.37 while the NASDAQ rose 0.57% to 13,540.74. The S&P 500, also rose, gaining, 0.53% to 4,399.59.
