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Obama calls for offshore drilling in Southeast

WASHINGTON — The Obama administration on Tuesday outlined a politically fraught plan for allowing oil and gas drilling offshore along parts of the Atlantic coast while imposing new restrictions on environmentally fragile waters off northern Alaska.

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Alliance's Hillwood Commons lands first tenant

A large title insurance, property valuation and settlement services company is the first tenant at Hillwood Commons I, an office complex at Alliance Town Center.

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Museum District: Area’s evolution creating more interaction, public spaces

Fifteen years ago if someone had shot a cannon from Fort Worth’s world-renowned museum district, nobody would have noticed, joked Lori Eklund, senior deputy director of the Amon Carter Museum of American Art. But that has changed.

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Energy Transfer Partners, Regency Energy announce $18B merger

Energy Transfer Partners LP of Dallas and Regency Energy Partners LP have entered into a definitive merger agreement.

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Fort Worth's mayor looking for new chief of staff

Jason Lamers is leaving the city after 14 years to join Burlington Northern Santa Fe.

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Whole Foods squeezed by competitors

CANDICE CHOI, AP Food Industry Writer


NEW YORK (AP) — Whole Foods cut its profit outlook for the third time in recent months on Tuesday, signaling the intensifying competition the grocery chain is facing in the market for organic and natural foods.

The company, based in Austin, Texas, has grown in popularity by positioning itself as a purveyor of wholesome foods. More recently, however, its dominance among the healthy-eating set has been challenged as traditional supermarkets, big-box stores and even online retailers step up their organic and natural offerings.

"For a long time, Whole Foods had the field to ourselves. That was nice. But the reality is that we don't anymore," said John Mackey, the company's co-founder and co-CEO, in a conference call with analysts and investors.

Whole Foods is coming to Fort Worth's Waterside development in 2016, developer Trademark announced last week. 

Still, Mackey stood by the company's growth potential.

To appeal to a wider base of customers, Whole Foods Market Inc. has been trying to keep its prices down, in part by pushing its more affordable store brands. Those store brands are also designed to cultivate loyalty, since customers can't find them elsewhere. But most major retailers including Target and Kroger are using a similar strategy of dangling spruced up store brands.

Looking forward, Whole Foods said it still sees demand for 1,200 locations in the U.S. It currently has about 380 stores.

For the quarter ended April 13, the company said sales at established locations rose 4.5 percent, hurt by the shift of Easter the current quarter. A year ago, the figure had climbed 6.9 percent.

Its profit was unchanged from year ago at $142 million, or 38 cents per share. But analysts expected 41 cents per share in the latest period.

Revenue rose to $3.32 billion, but also fell short of the $3.34 billion Wall Street expected, according to FactSet.

Whole Foods now expects to earn between $1.52 and $1.56 per share for the year, down from its previous forecast of $1.58 to $1.65 per share. The company had already cut its forecast in November, then again in February.

Sales at established locations are expected to rise between 5 and 5.5 percent, down from the latest forecast of 5.5 to 6.2 percent.

The company's stock fell $6.70 to $41.25 in after-hours trading.

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