Whole Foods Market (NASDAQ:WFM) is expected to report Q2 earnings on Wednesday, July 27 after the market close with a conference call scheduled for 5:00 pm ET.
Analysts are looking for a profit of 48c on revenue of $2.42B. The consensus range is 45c-51c for EPS and revenue of $2.39B-$2.44B, according to First Call. After beating EPS estimates with double-digit positive surprises the last three quarters in a row, Whole Foods hopes to continue its recent success with its latest report.
A Barron's report from July 12 supposes that it can, claiming the company's niche brand attracts affluent consumers, which allows it to avoid the competition from dollar stores and big box retailers that other grocery stores are fighting against. This echoes the sentiments of a Goldman note on Whole Foods from July 11, when the firm upgraded the stock to Conviction Buy, citing accelerating fundamentals and operating margin expansion. At that time, Goldman raised its price target raised to $76, about 12.5% higher than the shares are currently trading.