Whole Foods Market Inc. tumbled as much as 12 percent after posting disappointing results and cutting its sales forecast, a sign the organic grocer is losing its edge in a market it helped pioneer.
Excluding some items, earnings came in at 44 cents a share last quarter, the company said in a statement Wednesday. Analysts had estimated 45 cents on average, according to data compiled by Bloomberg. Sales were $3.63 billion in the period, which ended July 5. The average estimate tracked by Bloomberg was $3.69 billion.