Amazon to cut prices on Whole Foods staples like eggs, beef

NEW YORK (AP) - Amazon plans to use its deep pockets to make big changes at Whole Foods, saying it will cut prices on bananas, eggs, salmon, beef and more when it completes its $13.7 billion takeover next week.

Helping Whole Foods win back customers who found "good enough" organic and natural products elsewhere - possibly at a lower cost - fits Amazon's track record of keeping prices low to lock in customer loyalty. Looking ahead, Amazon hopes to give members of its Prime program special savings and other in-store benefits.

Analyst Neil Saunders of GlobalData Retail called it an "opening salvo" in the grocery wars and shares of other supermarkets fell sharply on the news.