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Whole Foods Misses Estimates After Rivals Nab Organic Shoppers

A Whole Foods in Dublin, Ohio.

A Whole Foods in Dublin, Ohio.

Photographer: Ty Wright/Bloomberg
Updated on

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.