SHOCKER!!!! Fewer people can afford to shop at Whole Foods these days.....

[marmar]

No mierda, Senor Sherlock! :think:


Whole Foods profit slides 17% as demand slows
By Matt Andrejczak, MarketWatch


SAN FRANCISCO (MarketWatch) -- Whole Foods Market, the nation's largest organic grocery chain, reported late Wednesday net income fell 17% from the year-earlier quarter due to slowing store traffic and legal costs.

Whole Foods posted a fiscal first-quarter profit of $32.3 million, or 20 cents a share, down from $39.1 million, or 28 cents a share, last year. The profit was better than the 19 cents analysts had forecast, according to FactSet Research. Whole Foods said its pending antitrust legal fight with the Federal Trade Commission ate into its profit.

Sales for the 16 weeks ended Jan. 18 were unchanged at $2.5 billion.

But Whole Foods faced negative growth at its existing store base. Comparable store sales -- a key barometer of retailer health -- fell 4% compared with a 9% gain last year. The decline underscores how consumers are shunning pricey groceries and other goods. Since 2004, Whole Foods has averaged an annual growth rate of 10.2% for comparable store sales.

Just in the last four weeks ended Feb. 15, Whole Foods said same-store sales fell 4.5%.

Whole Foods last summer took steps to brace itself for the consumer-spending slowdown and is taking a further look at containing expenses. ........(more)

The complete piece is at: http://www.marketwatch.com/news/story/Whole-Foods-profit-slides-17/story.aspx?guid=%7B0D250E35%2DF624%2D478F%2DB82E%2D800CEA3BABE2%7D

[Mike 03]

1. I share your sarcasm. This is the world's smallest surprise. NT

[Captain Hilts]

2. Nom de Dieu! Quelle fromage! nt

[ikojo]

3. It was a sad day when they bought out Wild Oats

While still not cheap, at least Wild Oats was less expensive than Whole (paycheck) Foods.

[tbyg52]

8. And they are not all that good, if you ask me.

I can get better stuff cheaper in the organic section of Kroger. And in HEB where they put the organic stuff where it belongs - with whatever food group it falls into!

I continue to be puzzled when people rave about Whole Foods.

[LostinVA]

4. As well as the "whole paycheck" stuff, Whole Foods gas EXCELLENT prices on many things

Better than "regular" grocery stores. You can actually save alot of money there, as long as you keep teh stars out of your eyes, and just get what you need.

[supernova]

7. The budget take out meals are a pretty good deal

Entree two sides and a side salad all for $14.99. Meal for 4 or single person for a week.

[marmar]

9. Yes, the Allegro coffees (which are excellent) and fresh breads are actually reasonable....

.... but beyond that, I can't think of a whole lot.

[LostinVA]

17. Almost all the bulk stuff, and many of the canned and boxed stuff is, too

All of teh 365 stuff is very reasonable, and the produce often is -- you just have to get what's on sale.

[underpants]

13. Fresh Market is the same way

Know what you are getting before you go in or you will end up dropping $50

[LostinVA]

18. Exactly -- the 365 stuff and what's up sale, as well as bulk stuff

And, any of the "processed"organic stuff (cereal, etc.) is WAY cheaper than usual grocery stores.

The problem is, Haruka will go,"OOOOOO -- let's try this cheese that costs $1,000,000 a lb.!"

[underpants]

24. 7th Generation is on sale everywhere right now

it is going to be in Walmart soon too

the Prez of 7th Generation is an advisor to Obama

[LostinVA]

49. We get teh Costco version of that for the laundry -- we think it is actually 7th Gen

It looks and smells EXACTLY like it.

[Marrah_G]

26. Sadly I think I have this to look forward to also Livvy

My guy is not very good at shopping/eating on the cheap. Starting soon he isn't going to have much of a choice. He is going to have to learn to cook instead of eating out, at least until I move there :)

[LostinVA]

48. Uh oh

[Stephanie]

16. The store brands are great

365 all the way, well priced and well made.

[LostinVA]

22. Agreed and agreed!

[Gormy Cuss]

40. Yes, you need to be a careful shopper

and one who knows what the other stores are charging for the same stuff. It's pretty clear that the price points on certain items are set to be competitive with the regular chains and Trader Joe's. In the case of more traditional health food store items Whole Paycheck is always cheaper than the local Safeway around here.

[GentryDixon]

5. No kidding.

The only thing I now buy there is my dog's food & treats. I get my other organic food at other stores.

[Sebastian Doyle]

6. Beyond the sarcasm, this is really a sad story.

Because it ultimately means more people will be forced to eat processed, mutated, unhealthy "food" because it's "cheaper".

[Lost in CT]

39. Not really.

Walmart Costco and local grocery stores have definitely jumped of the organic bandwagon.

Whole foods problem is everyone else is selling organic cheaper... a lot cheaper.

[ComtesseDeSpair]

10. Yes, Quite Shocking...

I have never been able to afford to shop there. I will know that I have truly "made it" when I can shop in a store like that!

[stillcool]

29. me too. Although when I truly have made it...

I'll probably just move up to name brands.

[Cant trust em]

11. I just want my creamy organic peanut butter

Is it OK to eat peanut butter now?

[Mist]

12. It's the only place I feel safe buying meat and fish. By sticking to meat, fish, vegs, grains, and

trying to avoid the "fancier" stuff, the dent in my wallet isn't too bad. I'll gladly pay for safe sourcing of my food.

[distantearlywarning]

30. I feel the same way.

And last year, we did a cost comparison of Whole Foods vs. Local Grocery Store for all of the items we buy weekly. Whole Foods was actually cheaper by about $5, and we figured we saved more than that because the produce was a much better quality and lasted longer.

I don't really get the people who say Whole Foods is expensive. I mean, if you're buying fancy cheese and steak, ok. But as long as you make sensible choices about meats and stay away from the dessert counter, it's really not that bad.

[Mist]

38. Yes, it's about buying for value, which doesn't mean buying the cheapest things. You get

what you pay for, and Frankenfood ain't for me!

And yes, the dessert area should be avoided (if possible).

[leftofthedial]

14. whole paycheck

[spanone]

15. that's a fact jack......

[ogneopasno]

19. What, the company whose CEO has compared unions to herpes? Here's a clue, buddy:

If people aren't paid well, they can't afford to shop at your store! DUMBASS!

[bobbolink]

23. .

:applause:

[Hello_Kitty]

42. Ain't that hard to figger out is it?

Cheap Labor enthusiasts can never quite seem to figure that one out.

[Raine]

20. I like Sproats and Trader Joes

better than Whole Foods, neither is as expensive and I think they have a better selection of things in general.

[LostinVA]

21. We buy 95% of our food at TJ's -- although, the selection at WH is way better

[Raksha]

31. I shop at Trader Joe's whenever I can

(it's not exactly around the corner from me). The prices are often much better than at the local supermarkets like Stater Bros, although there are plenty of cut-rate markets around here too. I don't even know if there is a Whole Foods around here. Besides Trader Joe's, the other big favorite for organic food in my neighborhood is Clark's Nutrition. I've been in there ONCE but didn't buy anything, because it's kinda pricey. I don't think it's as bad as Whole Foods, though.

[notesdev]

43. another Trader Joe's fan here

I've saved a gazillion dollars at that place and have eaten better, too.

I also have to agree with others that shopping smart is the major factor in the equation. I wager you could do pretty well almost anywhere if you follow a few simple rules: don't buy what you won't eat; don't buy brand name if a reasonable quality generic alternative is available; go to more than one store and buy at each what each sells cheapest, from among what you need.

[Sequoia]

25. Where I live they just stopped construction on a new store.

Now it's just an eye sore.

[KamaAina]

28. Here, too.

What they did was, they found a supermarket space being vacated out towards the wealthier side of town, pounced on it, and surprise! announced they were delaying the one in town until 2010.

[arcadian]

46. That sounds like the norm on the Big Island.

If you saw a sign that said "Coming Soon! Malama Market" You pretty much knew you had anywhere from 6 months to 2 years of a wait. Unless it was something being built in Kona in which case the land would be cleared, surveyed, foundation set, framed, roofed and finished in all of about a week.

[Sequoia]

47. Ha, that sounds like my town....

in Sonoma County.

[Raksha]

27. Why am I not surprised?

[varelse]

32. Hmm... wonder why they are still opening new stores?

There's one opening in my neighborhood next month, and at least one a month opening nationwide. What's up with that?

[Liberal In Texas]

36. There's one opening in March near here too.

But it is really moving from another location. I think they believe there will be more traffic at the new location.

I'm happy as the other stores around our neighborhood suck.

[rucky]

33. How could people survive without Rennetless Camembert?

:P

[marmar]

34. or Old Amsterdam Aged Gouda......

on second thought, maybe I couldn't survive without that....

[Lost in CT]

35. I bought a tomato from Whole foods... I named him george....

They are overpriced to the extreme and have been for quite some time.

Between ethnic grocery stores, Costco and Walmart they are getting hammered on all sides.

[Liberal_in_LA]

37. I use to shop there more often. Now I drive past. Love the salad bar but the price!

[catzies]

41. I couldn't afford Whole Foods even when I was making $80,000/yr.

God bless Trader Joe's.

[REP]

44. I can afford them but shop at Trader Joe's

They're cheaper and better.

[Mari333]

45. I have 2 friends who are bitching about this

they always buy organic, blehblehbleh, and go on and on about environmental this n that, but they are both sorta elitist , to be quite honest with you all, in a latte drinkin kind of way...(both brought up in wealthy homes)..nonnneeetheless, they are both hurtin for money now, and are all a flutter because they 'might' have to lower themselves to shop for cheap stuff like the rest of the plebian unwashed masses (like me), and, god forbid, they might not be able to buy organic.
THAN then bitch and moan to me about how little money they have because business is off..I tell them "hey you might have to shop at the dollar stores or sav a lot and buy beans and rice and make them last a couple weeks"..they sniff a bit at that . well, no more bitching to me, I told them, until they can make do on cheap foodstuffs. One of them can barely pay her mortgage but insists on buying gourmet coffee. I mean, c'mon.