Analysts are expecting quarterly earnings per share of $0.32 on revenues of $3.26 billion. For the company’s full fiscal year, which ended in the September quarter, analysts are looking for EPS of $1.54 on revenues of $14.19.
At the end of its third quarter, Whole Foods guided sales growth for the year down from a previous range of 10.5% to 11.0% to a new range of 9.6% to 9.9%. Full-year same-store sales growth previously forecast at 5.0% to 5.5% was trimmed to a new range of 4.1% to 4.4%. Operating margin was also trimmed, from a prior range of 6.5% to 6.6% to a new range of 6.4% to 6.5%.
Whole Foods’ revised guidance on EPS worked out to $1.52 to $1.54, and analysts have settled on the higher figure. The consensus revenue estimate is also at the high end of Whole Foods’ range. Reported third-quarter same-store sales growth of 3.9% was the lowest in four years, and the company revised its guidance down four times over the year and the share price is down 37.5% over the past 12 months.
Whole Foods has lowered some prices to better compete with Kroger Co. (NYSE: KR) and Wal-Mart Stores Inc. (NYSE: WMT), which both tout their natural and organic foods. By doing so, however, the company forfeits its place at the high-end of the market. Its recent Responsibly Grown fresh-produce ranking system is likely aimed at returning to the store some pricing power for produce grown under more demanding conditions. This may be a turnaround effort that is loaded with unintended consequences.
Shortly after the market opened on Wednesday, the stock rose more than 1.5% to $40.45, in a 52-week range of $36.08 to $64.72.
ALSO READ: Earnings Surprises Could Hammer Short Sellers of These 4 Stocks
[protected-iframe id=”10da10140f9282c3fa4de9555db8122c-5450697-30366712″ info=”//companies.findthebest.com/w/lgvHTN8Aj9H” width=”600″ height=”400″ frameborder=”0″ scrolling=”no”]
100 Million Americans Are Missing This Crucial Retirement Tool
The thought of burdening your family with a financial disaster is most Americans’ nightmare. However, recent studies show that over 100 million Americans still don’t have proper life insurance in the event they pass away.
Life insurance can bring peace of mind – ensuring your loved ones are safeguarded against unforeseen expenses and debts. With premiums often lower than expected and a variety of plans tailored to different life stages and health conditions, securing a policy is more accessible than ever.
A quick, no-obligation quote can provide valuable insight into what’s available and what might best suit your family’s needs. Life insurance is a simple step you can take today to help secure peace of mind for your loved ones tomorrow.
Click here to learn how to get a quote in just a few minutes.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.