Whole Foods’ disappointing profit guidance comes from expectations new stores will not be as profitable as quickly as they have been in the past, said Credit Suisse analyst Edward Kelly.(Stephen Hilger/Bloomberg News/File 2007
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MARKET MOVERS
Whole Foods forecast disappoints investors
Whole Foods’ disappointing profit guidance comes from expectations new stores will not be as profitable as quickly as they have been in the past, said Credit Suisse analyst Edward Kelly.(Stephen Hilger/Bloomberg News/File 2007
)
Shares of Whole Foods Market Inc. wilted after the chain offered a cautious outlook for its new fiscal year. Late Wednesday, the Texas company said it earned $28.7 million, or 20 cents per share, in the fiscal fourth quarter. That beat expectations. But the guidance for 2010 earnings of $1.05 to $1.10 disappointed the stock market. On average, analysts were expecting $1.11 per share for fiscal 2010.
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