Jefferies wary on Whole Foods ahead of earnings

• Jefferies warns on a miss by Whole Foods Market (WFM) on comparable-store sales when it reports FQ3 results on July 27.
• The company reported a 3% drop in comparable sales for FQ2, with both average basket size and transaction count lower for the period.
• Consensus FQ3 estimates on Whole Foods are for revenue of $3.693B and EPS of $0.37, while analysts expect another quarter with a negative comp.
• Shares of Whole Foods are up 12% since the last time the company spilled earnings numbers.