The company reported $0.43 earnings per share for the quarter, missing analysts’ consensus estimates of $0.45 by $0.02.
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WFM has been the topic of a number of research analyst reports.
For Whole Foods, layoffs are anything but the norm. The firm’s quarterly revenue was up 9.0% on a year-over-year basis. The ex-dividend date is Wednesday, September 30th. Shares fell 0.7 percent to $30.88 shortly after the market opened Monday, with a 38 percent decrease in per share prices so far this year. Two equities research analysts have rated the stock with a sell rating, eighteen have issued a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company’s stock. Investigators uncovered evidence of a few 800 violations at Whole Foods stores, beginning in 2010, Consumerist reports, with overcharges ranging from $.80 to nearly $15. During the same quarter a year ago, the firm earned $0.41 EPS.
“The hairstyles, add up to about a.6% of Whole Foods’ employed pool, are unusual for Whole Foods, which actually improved swiftly during its background prides itself on proposing benevolent pay out, share and doctors benefits of company employees – as well as its per hour, store-bought workers”, provided The Wall Street Journal.
The job cuts come as Whole Foods faces increased scrutiny for its “whole paycheck” image following an investigation that revealed several stores were overcharging customers for food.
We reached out to Whole Foods for comment and will update when we hear back. (Whole Foods Market) is a retailer of natural and organic foods and grocer. As a result, Whole Foods is facing tough competition in the organic grocery segment in which it dominated once.
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The company’s corporate statement says that it “anticipates numerous reductions to be managed through natural attrition and expects a significant percentage of affected Team Members will find other jobs from the almost 2,000 open positions across the company….” As of September 29, 2013, 362 stores were operated by Whole Foods Market in America, Canada, and the UK. The offices of the Company are supported by its headquarters, regional offices, distribution centers, bakehouse facilities, commissary kitchens, seafood-processing facilities, make and meat procurement centers, plus a specialty coffee and tea procurement and roasting operation. The 365 and 365 Organic Everyday Day Value brands of the Business account for about half its own brand things.
