Amazon's Whole Foods strategy a win for suppliers
Despite Amazon's price cuts at Whole Foods Market, the CEO of a top food supplier says his company has seen sales "increase dramatically."
"Ultimately, sales drives a lot of leverage on margins, on delivery and costs," Hain Celestial CEO Irwin Simon told CNBC. He says his company has more than 1,500 products authorized at natural and organic grocer Whole Foods.
Simon said Hain will continue to work on prices with Amazon, but added he thinks "it's important to be able to put out there well-priced products. I've seen costs come down, and we will participate with [Whole Foods]," he said in an interview on "Squawk Alley." "But the volume has increased dramatically at Whole Foods."
Watch the video of the interview here.