Let Whole Foods Shares Fall Before Buying In - Ben Stevens (The StockMasters)

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Let Whole Foods Shares Fall Before Buying In
May 15, 2008 04:48 PM UTC

Ben Stevens (The StockMasters)

Return	Risk
-37.93%	MID

Tracked Blogger

Profile & Performance

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Symbol	Sentiment	Start	Return	Closed
WFMI		05/15/08	-10.06%	--

5/14 - "It's been a rough go for WFMI this past year, shares are down 25% and YOY sales (growth) at their stores fell to 6.7% from 12% two years ago. Add to it the increasing cost of groceries and it equals a lower stock price for Whole Foods.

The U.S. Labor Department reported this morning that the cost of a bag of groceries jumped 1.5% last month, its steepest one-month rise in 18 years...How do you think this will impact Whole Foods? Badly.

To make matters worse, Whole Foods has 89 new stores under development. And most of them will be larger than its 270 existing stores. Starbucks (SBUX) anyone?"

"Masters, let the stock continue to take a beating, when we get to $25, then buy."

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5/14 - "Whole Foods (WFMI) released results and profit fell 13%, again proving like Starbucks' (SBUX) results, consumers will go for the less expensive option for like items...While the company backed its same store sales number of 7.5% to 9.5%, given results to date, one has to think that will turn out to be just way too optimistic. Like Starbucks, Whole Foods is being hit by a slowing econ...

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