Supermarket chain Kroge (KR)r made a big push into organic food and its stock has been routinely hitting all-time highs lately thanks to strong results. Whole Foods has also had to contend with a growing challenge from discounters like Costco (COST) and Walmart (WMT).
And the success of Whole Foods gave birth to a new crop of healthy food grocers such as Sprouts (SFM), Fresh Market (TFM) and Fairway (FWM). Trader Joe’s has been expanding aggressively as well.
Whole Foods co-CEO John Mackey candidly addressed the issue of competition during the company’s conference call with analysts Wednesday.
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That may be true. But investors (and consumers) are happy to see that Whole Foods has at least taken some steps to shed the Whole Paycheck image.
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