Shares of Whole Foods plunged as much as 9 percent after the company released fiscal fourth-quarter earnings Wednesday.
Whole Foods also announced a $1 billion stock buyback program, dividend increase and capital structure plan.
The grocery chain posted quarterly revenue of $3.44 billion, missing analysts' expectations for $3.47 billion, according to Thomson Reuters. Whole Foods reported GAAP earnings per share of 16 cents. Adjusted for one-time items, the retail chain reported earnings per share of 30 cents, missing the 34-cent mark analysts had been expecting.
The shares later recovered slightly to a drop of 6 percent in extended trading.