Whole Foods Shares Drop On Earnings Miss, Weak Outlook

By Wallace WitkowskiMarketWatch Pulse

Whole Foods Market Inc. shares dropped Wednesday after the upscale natural and organic food market missed on fiscal third-quarter earnings and issued a weak outlook. Shares of Whole Foods fell 10% to $36.60 on heavy volume. The company reported third-quarter earnings of 43 cents a share on revenue of $3.63 billion. Analysts surveyed by FactSet had estimated 45 cents a share on revenue of $3.69 billion. Whole Foods forecast fiscal fourth-quarter earnings of between 34 cents to 35 cents a share, while analysts had estimated 38 cents a share.

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