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Amazon to Launch New Grocery-Store Business

WSJ: The reason behind the new brand is reportedly to hit a lower price point than the high-end Whole Foods brand, which has quality standards for ingredients that preclude many of the food industry's biggest names. The company is negotiating locations in Seattle, San Francisco, Los Angeles, Chicago and Philadelphia, the WSJ reports. Amazon has reportedly already signed leases for two locations beyond its first location in L.A., with planned openings for early next year. The WSJ reports that shares of major grocers like Kroger and Walmart dipped in reaction to the news.