BeaconEquity.com announces the publication of ‘Whole Foods (WFMI) Digests Disappointing 3Q Results, Wild Oats Buyout and Weak Sales Cited’
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Whole Foods (WFMI) Digests Disappointing 3Q Results, Wild Oats Buyout and Weak Sales Cited
”High-end food stocks seem to be taking a rough time in the domestic economy, with several companies reporting poor forecasts and miserable numbers during the first quarter of this year. With the sluggish U.S. economy in the picture, investors fear that the economic hard times is gradually eroding sales. The impact is significant to organic food grocer Whole Foods; according to some observations, today's soaring food prices will prove bad time to be in the expensive food business…
“Whole Foods, the world's leading natural and organic foods supermarket, recently sank to a 52-week low after it had a disappointing quarterly profit and said it would halt its dividend. For the 12-week third quarter ended July 6, 2008, Whole Foods net income dropped more than 30% to $33.9 million, or 24 cents a share…
“The upscale grocer's quarterly results were weighed down by costs and charges related to its acquisition of Wild Oats. Whole Foods estimates the negative impact on net income from Wild Oats, a smaller rival it recently took over, was approximately $4.9 million, or 3 cents per diluted share in the quarter…”
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