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Whole Foods Continues Upbeat Trends

Posted by The Staff on Apr 19, 2012 1:16 PM

A post Easter survey conducted by Jefferies was upbeat about Whole Foods (NYSE: WFM). Consumer spending trends remain strong, although they do not appear to be accelerating. The survey showed 79% of consumers are more willing to spend, which is up from 69% post-New Years and 46% from a year ago.

While these numbers are unlike to cause an immediate pop in the stock, they do support the case for owning Whole Foods with a long/mid term time horizon.

Jefferies' analyst said the numbers suggest there could be upside to the 9.0% comp estimate, although a double-digit comp is not likely due to a slowdown in consumer trade up and discretionary purchases.

Whole Foods is not on the ESA Top 100.

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