Whole Foods Market was hit hard in after-hours trading on Wednesday after reporting a lackluster third quarter. Jim Cramer was left wondering how this company plans to fend off the competition and turn things around.
"It is worth remembering that this stock has been in the doghouse for ages — it was down nearly 39 percent going into today's close, but it seems the pain is not over," the "Mad Money" host said.
The company delivered per share earnings of 30 cents for third quarter, excluding a couple of one-time items, when Wall Street was looking for more than 34-cents. It also had weaker-than-expected revenues and negative same-store sales growth. Additionally, management's guidance for 2016 was below what analysts were expecting.
To find out more about the initiatives that Whole Foods has in store to turn things around, Cramer spoke with co-CEO Walter Robb.