Amazon stock rose 1.6% as the company plans to close Amazon Fresh and Amazon Go stores to focus on expanding Whole Foods. Over 100 new Whole Foods locations are set to open, with same-day delivery being a top priority. CEO Andy Jassy highlighted the company’s significant growth in the grocery sector.

Amazon is doubling down on online grocery buying trends, emphasizing same-day delivery for consumer retention. CEO Jassy noted the shift away from traditional grocery stock-up trips. Walmart, a major competitor, has prioritized convenience and same-day delivery. Amazon is due to report earnings on Feb. 5.

H Squared Research’s chief research officer, Hitha Herzog, believes Amazon’s move reflects the shift towards online grocery shopping. With consumer expectations rising for rapid and quality-controlled deliveries, Amazon is adapting to meet these demands. Jassy sees potential in the company’s emphasis on same-day perishables.

Read more at Yahoo Finance: Amazon to close Fresh and Go stores to focus on delivery, Whole Foods