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Whole Foods Market (WFM) Pulled Back Sharply On Guidance News

Whole Foods Market (WFM) reported first quarter EPS of $0.78 after the bell Wednesday, up from $0.65 in the previous year. The consensus estimate was for EPS of $0.77. The Company does not expect to produce the same level of EPS growth over the remainder of the year as it produced in the first quarter due primarily to tougher gross margin comparisons.

Whole Foods Market gapped open sharply lower Thursday and drifted lower during the first 2 hours of trade. Shares finished down by 9.40 at $87.50 on the highest volume of the year. The stock sank to a 1-month low and fell below both its 50 and 200-day moving averages.

by RTTNews Staff Writer

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