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Whole Foods Market (WFM) 3Q16 Results: Mostly In-Line Quarter; Comparable Store Sales Struggling

Executive Summary

  • Whole Foods Market reported fiscal 3Q16 revenues of $3.7 billion, up 2% year over year and roughly in line with the consensus estimate. Adjusted EPS was $0.37, in line with consensus and representing a 14% decrease from EPS of $0.43 in the year-ago quarter.
  • Comparable store sales decreased by 2.6% in the quarter and transactions were down 2.7%. Year to date, comparable store sales are down 2.4%.
  • The company downgraded its outlook for FY16, citing the year-to-date comparable store sales decrease of 2.4% and continued healthcare costs.

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