Whole Foods Profit Trails Estimates as Sales Growth Slows
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Whole Foods Market Inc., the largest U.S. natural-goods grocer, fell the most in more than three months after posting profit that trailed estimates and lowering its full-year forecast amid increased competition.
The shares slid 7.9 percent to $51.09 at 9:38 a.m. after plunging as much as 8.7 percent for the biggest intraday decline since Nov. 7. Whole Foods yesterday said quarterly net income rose 8.2 percent from a year earlier to $158 million, or 42 cents a share. That missed the 44-cent average of 29 analysts’ estimates compiled by Bloomberg.