Whole Foods struggling sales shows Amazon buying a fixer-upper

Amazon is set to have a fixer-upper on its hands, with Whole Foods reporting that a key sales figure declined again.

The grocery chain said yesterday that sales fell 1.9 percent at established locations for the three months that ended July 2. That marks the eighth straight quarter the figure has dropped as Whole Foods sees more competition from traditional grocers, big box retailers and others offering more organic choices.

Facing pressure from investors to improve, Whole Foods agreed to be acquired by Amazon in a $13.7 billion deal announced last month. The companies have not said what might change for customers, but the announcement rattled the supermarket industry, given the track records of Amazon CEO Jeff Bezos and Whole Foods CEO John Mackey. Whole Foods has more than 465 stores in the United State, Canada and the United Kingdom.

For the quarter, Whole Foods earned $106 million, or 33 cents per share. Analysts expected 34 cents per share.

Whole Foods shares were little changed by the quarterly results, inching up 6 cents to $41.81. Amazon shares were up 1.2 percent yesterday, trading at $1,052.80.