Sources “familiar with the matter” have conflicting answers on whether Target and Kroger are considering a merger to compete with the influence of Amazon and Whole Foods.
Nevertheless, Target and Kroger stock jumped following the rumors.
A Kroger spokesperson said the Cincinnati-based company doesn’t comment on rumors or speculation.
Fast Company says Target and Kroger initially talked last summer about a merger to shore up Target’s flagging grocery business and “give Kroger more access to merchandise and e-commerce,” the article said.
Boise, Idaho-based Albertsons also was rumored to be interested in Sprouts.