Whole Foods Market shares are down 7.8%.
While much of the quarterly report fell exactly in line with what analysts were expecting, its comparable sales declined 2.6%. (This metric measures the amount of revenue a store generated this quarter compared to the same period last year.)
Some have attributed the persistent decline in Whole Foods’ comparable sales to last year’s scandal, in which the company was shown to have systematic issues with packaged foods that resulted in overcharging some consumers.
The co-CEOs of Whole Foods will discuss the report in a call this evening. ES