“Whole Foods shares are dropping sharply after the company’s fiscal first-quarter earnings report.
Shares were down 7% at $90.08, after the company reported earnings of 78 cents a share on sales of $3.86 billion. That was a match on the top line, and a penny better on the bottom line than Street consensus.
But the company offered a weak outlook for the rest of fiscal 2013. “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,” the company said in a press release, “due primarily to tougher gross-margin comparisons, particularly in the second- and third-quarters of last year, along with its ongoing strategy to expand value offerings across the store.”
The company pegged FY13 EPS between $2.83-$2.87, which is says it’s maintaining. But Street consensus is for EPS of $2.90, according to FactSet.”
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