Recently Whole Foods for found to be overcharging for prepackaged fruits, vegetables and deli meats. They claim that the overpricing was unintentional and that they would give items away for free if customers discover they were overcharged. Not good press for a company cleverly coined with the name ‘Whole Paycheck”
WFM released the name for its new chain of lower-priced stores will be called “365 by Whole Foods Market”. Their goal: lower-priced items for younger customers. The new stores will open next year.
EP Club purchased WFM for 51.60 (down 24%). The consensus 12-month price target is $65. Reluctantly, I would like to HOLD WFM for now.