Despite pumping the brakes on some growth plans and recently saying it would lay off more than 18,000 people, Amazon is still looking to expand its empire. The company intends to “go big” on its brick-and-mortar grocery store business, CEO Andy Jassy told the Financial Times.
Amazon bought Whole Foods in 2017 for $13.7 billion, but the company is far from dominating the grocery market like it has so many other sectors. The company's physical store division accounts for 3.4 percent of overall business and has grown only around 10 percent since the Whole Foods acquisition.