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Whole Foods Market (WFM) 1Q16 Results: Comps Have Decelerated in 2Q

Executive Summary

  • Whole Foods reported 1Q16 EPS of $0.46 versus the consensus estimate of $0.40.
  • Total revenue was $4.83 billion, an increase of 3.4% over the prior year period, versus expectations of $4.81 billion. Comps declined by 1.8% versus consensus of a 2.1% decline. The decrease was driven by a 0.2% decline in basket and a 1.6% decline in transactions.
  • Comps for the first three weeks of 2Q16 declined by 2.8%, following a modest deceleration in trends over the first quarter.

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