Join The Discussion

 

Moves by Jeb Bush add to talk of 2016 candidacy

WASHINGTON — Jeb Bush's decision to release a policy-laden e-book and all his emails from his time as governor of Florida has further stoked expectations among his allies that he will launch a presidential bid.

read more >

Ebby Halliday acquires Fort Worth’s Williams Trew

Williams Trew Real Estate of Fort Worth has been acquired by Dallas-based residential real estate brokerage Ebby Halliday Real Estate Inc.

read more >

Meridian Bank Texas parent acquired by UMB Financial for $182.5M

Kansas City, Mo.-based UMB Financial Corp., the parent company of UMB Bank, said Dec. 15 it has signed a definitive agreement to acquire Marquette Financial Companies in an all-stock transaction.

read more >

Cousins Properties to sell 777 Main tower in downtown Fort Worth

Cousins Properties Inc. has confirmed plans to sell the 777 Main office tower in downtown Fort Worth, according to a news release from the Atlanta-based real estate investment firm.

read more >

Glen Garden sale closes, distillery on tap

Firestone & Robertson Distilling Co. closed late Wednesday on its purchase of the historic Glen Garden Country Club in southeast Fort Worth, with plans to convert it into a whiskey distillery and bucolic visitor attraction.

read more >

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.

___

< back

Email   email
hide
TCU/Baylor
Did the College Football Playoff Committee get it right?