Capitalists Voluntarily Cut Produce Prices

See Whole Foods to try price cuts at some stores. Excerpt:

"Looking to hold off its competitors, Austin, Texas-based Whole Foods Market says it is kicking off its most aggressive price-cutting effort yet, starting with a pilot program at its Austin stores that will have customers seeing more “sale” signs in its produce sections than ever before.

Whole Foods said it has lowered prices on all produce products, about 400 items, at its five Austin stores. The company also plans to offer deeper discounts in about a dozen special deals each week, executives said.

The move is an admission from Whole Foods that it is facing a growing — and increasingly fierce — group of competitors in the natural and organic foods industry."

"Mackey said the retailer can afford to lower prices now after several months of cost cutting. The program will be in place for the coming months as executives weigh whether to expand the plan to other stores.

“We’ve spent a good part of 2014 reducing our expenses in order to be able to afford to make” the price adjustments, Mackey said."