- 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.
Deutsche Bank Maintains Buy on Apollo Global Management, Raises Price Target to $83
Deutsche Bank analyst Brian Bedell maintains Apollo Global Management (NYSE:APO) with a Buy and raises the price target from $81 to $83.
