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GeekWire reports that Blue Apron has lowered expectations for its upcoming initial public offering (IPO), saying that it plans to sell shares at between $10 and $11 apiece. That's down from the $15 to $17 price tag it originally said set for its shares.

The reason for the downgrade? GeekWire says that Amazon's bid to acquire Whole Foods for $13.7 billion seems like the probable cause, since "Whole Foods and Blue Apron target the same demographic, those with discretionary spending power and values-driven consumer behavior." Now that Amazon appears to be in the game, it would appear that Blue Apron could have more formidable competition.

• The Financial Times reports that UK grocer Tesco "is cutting 1,200 jobs at its head office and support centres in the latest in a wave of mass job losses in the grocery sector as it attempts to counter rising costs."

Tesco said that "the moves would reduce duplication and cost but also, very importantly, allow us to invest in serving shoppers better. The eliminated roles include marketing, finance, buying and property functions and will affect one in four workers at the supermarket's head office in Welwyn Garden City."

It was just a week ago that Tesco "announced the closure of one of its call centres with the loss of up to 1,100 jobs," FT writes. "Earlier this year it also culled 1,600 deputy store manager roles in its smaller stores, with junior staff left to pick up the slack."
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