Wall Street consensus numbers are calling for the Austin, Texas-based company to report earnings per share of 44 cents on revenue of $4.29 billion, up 11% from the year-earlier quarter, according to Thomson Reuters.
Investors have already been concerned over Whole Foods slowing sales growth numbers, owing it to growing competition in the organic and specialty food space from the likes of Fairway Market
(SFM), Fresh Market
(TFM), privately-held Trader Joes and even Kroger
WFM data by
However, shares of Whole Foods have held in over the past six months, while Fairway, Sprouts and Fresh Market have also lost significant share.
Whole Foods shares are down 0.43% over the last six months. Shares of Sprouts are down 11%, Fresh Market is down 41%, while Fairway is down 68% since Aug. 9, 2013. Fairway went public last April.
Whole Foods already lowered its expectations for 2014 sales growth in November, forecasting growth between 11% and 13% down from 12% to 14%, previously. It also said that comparable store sales for the year were expected to range between 5.5% and 7%, down from 6.5% and 8%, previously.
"We know shoppers are relying more and more on technology for their purchases," Whole Food's co-CEO Walter Robb said in a statement. "Square's focus on improving and simplifying commerce opens up tremendous opportunities to evolve our customer experience." Whole Foods will report after the bell on Wednesday. Here's what analysts are saying:
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV