NEW YORK (TheStreet) -- Shares of Whole Foods (WFM) were higher in mid-afternoon trading on Friday, as one of the company's shareholders is pushing for changes at the specialty grocery company, including a possible sale, Bloomberg reported earlier today.
CNBC's "Halftime Report" debated the stock in light of this news on Friday's show.
Whole Foods' current situation is similar to Yahoo!'s (YHOO) story, Ritholtz Wealth Management CEO Josh Brown said. Yahoo! had a "dominance" in the Internet and advertising space until competition heated up and "changed the landscape."
So Whole Foods can make changes, including its announcement earlier this week that it would eliminate its co-CEO structure, but that's not going to change the landscape, Brown argued. "At the end of the day, 10 years ago you did not have as many people offering the same type of organic grocery high-end shopping experience that now Whole Foods faces."
In addition, Whole Foods isn't facing this tough competition from startups, but from "some of the most established players in retailing history," Brown argued. And these players are "winning business" as they offer organic food at a better price point and in a "more convenient way" than Whole Foods.
Earlier this week, Whole Foods reported an earnings beat and in-line revenue for the 2016 fourth quarter after Wednesday's closing bell.
The specialty grocer also announced that it will eliminate the co-CEO structure starting December 31. Whole Foods co-founder John Mackey will be the sole CEO, while Walter Robb will remain on the board of directors and as a senior adviser to the company.