Some Wall Street Analysts Worried About Whole Foods as Comps Decline
SEAFOODNEWS.COM [Supermarket News] By Elliot Zwiebach - August 3, 2015 -
Wall Street analysts are expressing concerns over the near-term future of Whole Foods Market, forecasting the possibility of negative comparable-store sales and questioning the company’s decision to open smaller-format stores.
Scott Mushkin, an analyst with Wolfe Research, New York, said the lower comp sales are exacerbating the chain’s existing pricing challenge. “Whole Foods has let its high price problem fester, and now, with competition relentlessly attacking the company, it finds itself in a very difficult position — having to invest in price while it has its foot on the store development accelerator — at the same time it is attempting to roll out a new value concept that is likely to be highly cannibalistic.”
To Read Full Story Login Below.