Whole Foods Caught In A Free Fall

Shares of Whole Foods (WFMI) are plummeting this morning as the company announced lower-than-expected earnings per share of $1.05 to $1.10. The Street’s estimate was for $1.11, which has caused a 12% drop in the organic grocer’s stock.

Sales aren’t meeting expectations since customers are still shopping for deals at less expensive grocery stores.

Even going forward, CEO John Mackey doesn’t expect a “positive change in the economy over the short term,” according to today’s conference call.


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