Sales forecasts for Whole Foods lowered

|About: Whole Foods Market, Inc. (WFM)|By:, SA News Editor

Shares of Whole Foods (WFM) fall lower in after-hours trading after the company's guidance goes in the wrong direction.

The grocery store operator saw comparable store sales increase 5.9% during FQ4  to miss the estimates of some analysts by a full percentage point and fall below the recent trend (last 4 quarters: 7.2%, 6.9%, 7.1%, 5.9%)

Gross profit rate increased 37 bps to 35.6% as both the costs of goods and direct store expenses didn't rise as fast as sales.

The company sees FY14 EPS of $1.65-$1.69 vs. $1.69-$1.72 prior and $1.73 consensus.

WFM -8.7% AH.