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Here's a Reason Why Whole Foods (WFM) Stock Is Sliding Today

NEW YORK (TheStreet) -- Shares of Whole Foods Market (WFM) were dropping 5.03% to $49.63 on heavy trading volume late Wednesday morning after Sprouts Farmers Market (SFM), a competing specialty foods retailer, reduced its same-store sales guidance.

For the third quarter, Sprouts Farmers Market projects flat comparable-store sales vs. prior views for growth between 3% and 4%.

For the full year, the company expects same-store sales to increase between 1.5% to 2.5%, down from its previous outlook of a rise between 3.5% to 4.5%.

Sprouts Farmers Market said the company is experiencing "significant ongoing deflation" in an...