The Only Whole Foods Stock Cramer Is Buying Is Chicken Stock

TheStreet's Jim Cramer says Whole Foods was once the pioneer but the pioneer has to keep innovating.
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‘Would I buy Whole Foods (WFM)?’ Cramer asks. ‘I would buy food at Whole Foods… but the fact is that everyone at the major stores has the same thing Whole Foods has.’ Cramer says that Costco (COST) Target (TGT), and Kroger (KR) have similar foods. Even though Whole Foods ‘was the pioneer’ Cramer says ‘the pioneer needs to keep innovating.’ He adds that the recent weights and measures issue did actually hurt the organic grocer. Whole Foods had been overcharging for prepackaged food in its New York City stores and received negative publicity after an investigation had found that Whole Foods had been systematically overcharging New York City shoppers. Cramer says that ‘these are smart guys’ at Whole Foods and that ‘they will figure it out.’ But Cramer ends saying, ‘until they figure it out, ‘the stock’s a tough own.’