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Why Whole Foods Market (WFM) Stock is Slumping Today

NEW YORK (TheStreet) -- Shares of Whole Foods Market (WFM - Get Report) are down by 5.08% to $30.64 on strong trading volume on Monday afternoon, as the stock falls for a sixth consecutive day on concerns that the company's sales growth is slowing, Bloomberg reports.

Whole Foods's sales are being impacted by an increase in competition from other big box stores as well as conventional grocery stores.

It is possible that Whole Foods', an Austin-based grocery chain, sales will be flat in the fourth quarter, an analyst at Cleveland Research said, Bloomberg notes. The firm's previous estimate was for growth of 0.5% to 1%.

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"Increasing competition has had a significant negative impact on Whole Foods' financial performance over the past two years, and the company's lack of effective reaction appears to be driving a widening gap of underperformance versus peers," the firm said, according to Bloomberg.

Separately...


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