BUST: Whole Foods will slash prices, Walgreens lowers 2019 forecast, Apple slashes iPhone prices in China

Whole Foods will slash prices on hundreds of items starting Wednesday

  • Whole Foods will slash prices on hundreds of items starting Wednesday.
  • Customers will save an average of 20 percent on the new reduced-price items.
  • It expects to focus its discounts on produce, such as greens, tomatoes and tropical fruits.

 

Walgreens shares slide as drugstore chain misses earnings estimates, lowers 2019 forecast

  • Walgreens Boots Alliance on Tuesday reported fiscal second-quarter earnings that missed analysts’ estimates.
  • Executives from Walgreens and rival CVS Health have warned investors about challenges facing drugstores.
  • The company’s shares slid in premarket trading.

 

 

Apple slashes iPhone prices in China

  • Apple has cut prices on products in China, including iPhones, by nearly 6 percent.
  • The price cuts come as Apple has seen sales drop in China, leading to lower-than-expected revenue in the fourth quarter of 2018.
  • The price cuts were in direct response to a tax change in China which lowered the value-added tax for manufacturers like Apple.

Apple has cut prices for several of its most important products on its official Chinese online store by nearly 6 percent. The price cuts affect products including iPhones, iPads, Macs and AirPods, according to Apple’s online store in China.

The price cuts were in direct response to a tax change in China which lowered the value-added tax for manufacturers like Apple, according to Caixin.

The cuts also come months after the company blamed a $5 billion to $9 billion revenue shortfall in the fourth quarter of 2018 on “lower than anticipated ” iPhone sales and demand in China, Taiwan and Hong Kong.

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