Indeed, Amazon casts a long shadow over a number of industries. Grocery stocks plunged when the company acquired Whole Foods Market last year. Walgreens (NASDAQ:WBA) and CVS Health (NYSE:CVS) fell when the company acquired PillPack this summer, and an eventual entry by Amazon into the pharmacy space still hangs over the sector. The 2016 launch of Amazon Prints sent Shutterfly (NASDAQ:SFLY) down 12%.
In August 2007, Amazon announced AmazonFresh, a grocery service offering perishable and nonperishable foods. Customers could have orders delivered to their homes at dawn or during a specified daytime window. Delivery was initially restricted to residents of Mercer Island, Washington, and was later expanded to several ZIP codes in Seattle proper. AmazonFresh also operated pick-up locations in the suburbs of Bellevue and Kirkland from summer 2007 through early 2008.