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Whole Foods is sliding after missing on earnings and slashing its guidance

Jonathan GarberFeb 9, 2017, 03:00 IST

Lonely Planet via Getty Images

Whole Foods is sliding after announcing quarterly earnings that fell short of Wall Street estimates in addition to slashing its full-year guidance.

The upscale grocery chain earned $0.30 per share versus the Wall Street estimate of $0.39. On an adjusted basis, earnings were in-line at $0.39 per share.

Revenue rose 1.8% versus a year ago to $4.92 billion, but that was below the $4.98 billion that was expected.

Shares of Whole Foods are down about 4% in after-hours trading on Wednesday.

Comparable-store sales - at locations open for at least one year - fell 2.4%, greater than the expected decline of 1.7%.

The company says it sees full-year 2017 adjusted EPS of at least $1.33, which is below their previous estimate of $1.42 and short of the $1.44 that analysts were anticipating.

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