Amazon.com‘s (NASDAQ: AMZN) recently announced acquisition of Whole Foods Markethas other retail stocks running scared. Companies like Wal-Mart and Target Corporationdropped close to 5% the day of the announcement. On the other hand,Proctor & Gamble(NYSE: PG) shares were up just a bit on the day.
Does that make any sense? Not in my book. P&G’s 65 consumer brands are facing a battleif Amazon attacks the grocery aisles with the same gusto it has used for its other merchandise. Keep in mind P&G sells about 44% of its products in North America and 15% of its products directly to Wal-Mart Stores.