Whole Foods may be toast. Granted, it’s toast made from pricey, gluten-free, organic honey oat bread. But toast nonetheless.
Shares of Whole Foods (WFM) plunged more than 10% Thursday after the high-end natural grocery chain reported sales and profits that missed analysts’ forecasts. Its outlook did not impress investors either.
Whole Foods has been cutting prices to try and counter its bad reputation for being too expensive. But doing that has hurt its profit margins.
Making matters worse, many people STILL refer to the company as Whole Paycheck.