NEW YORK (TheStreet) -- Shares of Whole Foods Market (WFM) were higher in mid-afternoon trading on Tuesday as the company prepares to post its 2016 fiscal fourth quarter and full-year results following Wednesday's closing bell.
Analysts surveyed by FactSet are looking for the Austin, TX-based supermarket chain to report fourth-quarter adjusted earnings of 24 cents per share on revenue of $3.51 billion.
Wall Street expects same-store sales to decline 2% year-over-year during the period, according to FactSet.
In the same quarter last year, Whole Foods posted adjusted earnings of 30 cents per share on revenue of $3.44 billion, while same-store sales fell 0.2% year-over-year.
For 2016, analysts are forecasting adjusted earnings of $1.51 per share on revenue of $15.74 billion, according to FactSet.
Analysts surveyed by FactSet estimate that full-year same-store sales will drop 2.4% over last year.
In fiscal 2015, Whole Foods earned $1.48 per share on revenue of $15.39 billion. Full-year same-store sales increased 2.5% year-over-year.
Deutsche Bank recently said it is "cautious" about food retailers heading into September quarter results "given food deflation and the more promotional competitive environment."
The firm has a "hold" rating and $32 price target on Whole Foods stock.
Separately, TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this articles's author.
TheStreet Ratings rated this stock as a "hold" with a ratings score of C.