Shelly Banjo, Columnist

Whole Foods Needs to Check Its Price Math

Its discounts are hurting profits and not attracting new customers.

July 28, 2016 at 4:44 PM UTC

Shelly Banjo leads the global business team for Bloomberg News in New York. A former New York bureau chief and senior tech writer, she’s covered business, finance and economics for two decades.

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It's time for Whole Foods to recalculate.

The grocery chain on Wednesday evening reported a fourth straight quarter of declining sales at established locations, and its shares fell as much as 10 percent Thursday morning. Whole Foods missed Wall Street's revenue estimates and said sales in the current quarter are running 2.4 percent lower than a year earlier.