Whole Foods’ Profit Falls 32%
While consumers may tell survey firms they are buying more green items since the recession started, their spending habits tell a different story, at least where organic foods retailer Whole Foods is concerned.
Whole Foods’ profit for the most recent quarter fell 32 percent, from $40 million a year ago to $27 million now, according to WSJ.com.
Total revenue for the 280-store chain was down just 0.5 percent to $1.86 billion, but most troubling was a decrease of 4.8 percent in sales at stores open at least one year.
The retailer projects sales of $8 billion for the year.
Other retailers are feeling the pinch of the economy too. Discount goods retailer Wal-Mart saw its quarterly net sales fall 0.6 percent to $93.47 billion, according to MSNBC.com.
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