CINCINNATI, OH, and MINNEAPOLIS, MN - To be or not to be? That is the question. After Fast Company’s early morning report that Kroger and Target are looking to merge to combat Amazon’s looming industry-crossing presence, sources are phoo-phooing the notion, according to Reuters.

“We generally don’t comment on rumors or speculation,” said Kroger's Head of Corporate Communications and Media Kristal Howard, the news source reported.

Since the speculative news leaked, shares for both companies have surged. After the Fast Company article stated that the companies found a merger as “the best path forward,” Kroger shares rose 8 percent, but the gains were pared later, according to CNBC. Target shares jumped fractionally in the premarket, when the Fast Company report was published, CNBC added.

This news comes in the wake of Target’s hire of Jeff Burt, a previous Kroger exec, last year, who took on the task of running the food options that were set to change.

“We believe Target has much further to go before the grocery business is fully fixed,” said GlobalData Retail Managing Director Neil Saunder, as reported by CNBC.

While reports continue to speculate, it is clear that the industry is changing due to other reported mergers like the Amazon and Whole Foods merger, which is currently working through its own growing pains, as well as the more recently reported Albertsons and Rite Aid merger.

How will retailers react to the reports, and will this spark interest in new mergers to strengthen business ventures moving forward? AndNowUKnow will continue to report.

Kroger Target