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Whole Foods Posts Disappointing Sales, Profits

November 4, 2015: 12:00 AM EST
Whole Foods Market, which once had a lock on the fresh and organic grocery segment, posted fourth quarter financials that failed to meet Wall Street expectations, sending its stock price downward and prompting a $1 billion stock buyback. The company’s sales were $3.44 billion, up six percent from a year ago, but less than the $3.47 billion analysts expected. Earnings per share were $0.16, less than half of the expected $0.34 per share. The key reason for the sour financial report, the company said, is “increasing competition” in the fresh and organic foods sector from conventional grocery retailers.
"Whole Foods Market Reports Fourth Quarter Results", News release, Whole Foods, November 04, 2015, © Whole Foods Market IP. L.P.
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