Whole Foods Falls as Encroaching Rivals Crimp Sales Growth
If Whole Foods Builds It, Will Millennials Come?
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Whole Foods Market Inc. fell the most in a year after the supermarket chain’s latest sales results trailed analysts’ estimates, underscoring its troubles reaching millennials and competing with lower-priced rivals.
Revenue in the fiscal second quarter was $3.65 billion, the Austin, Texas-based company said in a statement on Wednesday. Analysts projected $3.7 billion, the average of estimates compiled by Bloomberg. Comparable-store sales growth slowed to 3.6 percent, compared with a forecast for a gain of 5.3 percent, according to Consensus Metrix.