56.5 F
Fort Worth
Friday, December 4, 2020
Business Whole Foods' sales decline again, grocer cuts forecast

Whole Foods’ sales decline again, grocer cuts forecast

Other News

Left for dead, twice, RadioShack gets another shot online

SILVER SPRING, Md. (AP) — RadioShack, a fixture at the mall for decades, has been pulled from brink of death, again. It’s the most prized...

JC Penney sees bankruptcy protection exit by Christmas

NEW YORK (AP) — J.C. Penney believes it will emerge from bankruptcy protection before Christmas under a new ownership agreement that would save tens...

Petalo, not Charmin: Virus brings Mexican toilet paper to US

By JOSEPH PISANI AP Retail Writer NEW YORK (AP) — Toilet paper is back on store shelves. But you may not recognize some of the...

Mall owners close to buying JC Penney out of bankruptcy

By ANNE D'INNOCENZIO AP Retail WriterNEW YORK (AP) — Mall owners Simon Property Group and Brookfield Property Partners are close to a deal to...

NEW YORK (AP) — Whole Foods says sales fell 2.4 percent at established locations, marking the sixth straight quarter of declines as it faces competitive pressures.

The company said the figure was also down for the current quarter, and it cut its sales and profit forecast for the year.

The Austin, Texas-based grocer has said it is working on better distinguishing itself from rivals, while also appealing to more customers with lower prices. It has been cutting costs and late last year got rid of its co-CEO structure, making co-founder John Mackey the sole chief executive. The company is also pinning its hopes on an offshoot chain, 365 by Whole Foods, that focuses on lower costs and convenience.

For the three months ended Jan. 15, Whole Foods earned $95 million, or 30 cents per share. Not including one-time items, it earned 39 cents per share, in line with expectations. Total revenue for its first fiscal quarter was $4.92 billion. Analysts expected $4.98 billion, according to FactSet.

Whole Foods Market Inc. now expects sales at established locations to fall as much as 2.5 percent. It previously said it expected the figure to be flat to down 2 percent. The figure is considered a key indicator of financial health, because it strips out the volatility of newly opened and closed stores. Earnings for the year are now expected to be $1.33 per share or better. It previously forecast earnings of $1.42 per share or more.

The company’s stock was down 3.9 percent at $28.25 in after-hours trading.

Whole Foods has more than 460 locations in the U.S., Canada and the United Kingdom.


Oh hi there 👋 It’s nice to meet you.

Sign up to receive awesome content in your inbox.

We don’t spam! Read our privacy policy for more info.


Oh hi there 👋
It’s nice to meet you.

Sign up to receive awesome content in your inbox.

We don’t spam! Read our privacy policy for more info.

Latest News

Iconic Fort Worth retail/office center to be represented by Vision

Vision Commercial Real Estate will now be representing one of Fort Worth’s iconic and historic retail/office locations, the Ridglea Village retail center at 6100 & 6040...

Optimism growing for COVID relief bill as pressure builds

By ANDREW TAYLOR Associated Press WASHINGTON (AP) — Optimism about delivering long-sought COVID-19 relief is building on Capitol Hill after additional rank-and-file lawmakers voiced support...

Legendary 6666 Ranch goes on the market for $192.2M

The legendary 6666 Ranch (pronounced Four Sixes) is up for sale. Lubbock-based land brokerage and appraisal firm Chas S. Middleton and Son has listed the...

Southwest warns nearly 7,000 workers of possible furloughs

By DAVID KOENIG AP Airlines Writer DALLAS (AP) — Southwest Airlines warned nearly 7,000 workers on Thursday that they could lose their jobs unless labor...

Fed reports slowing US economic activity due to virus surge

WASHINGTON (AP) — A Federal Reserve survey of business conditions around the country found that economic activity in several regions slowed in November as...