Pro-EU parties are set to hold onto two-thirds of the seats at the EU Parliament.Europe Politicsread more
The projected result comes shortly after Conservative Party leader Theresa May announced her resignation as prime minister on Friday morning.Europe Politicsread more
Sources say the talks, which have been happening over the last several weeks, have picked up speed in recent days and could lead to an announcement regarding a merger or...Autosread more
Stocks that are most prone to swine flu fears include Bloomin' Brands, Phibro, Darling Ingredients, Deere, and Hormel, according to analysts.Marketsread more
Biden had criticized Kim Jong Un as a "dictator" and a "tyrant" at a recent rally in Philadelphia. North Korean state media responded by calling Biden a "fool of low IQ" among...Politicsread more
Book income helped self-proclaimed socialist Bernie Sanders join the millionaire class, a group he has often criticized during his decades in politics.Politicsread more
Trump was speaking at a meeting of Japanese business leaders in Tokyo during his state visit to Japan on Saturday.Marketsread more
Cyberattacks against accounting software firm Wolters Kluwer and the City of Baltimore in May showed how the newest wave of malicious hacking can have significant, often...Technologyread more
The European parliamentary election is the second largest democratic exercise in the world.Europe Newsread more
You should use your summer vacation to unwind from work stress. Here are some tips for disconnecting while you're away.Technologyread more
If you value reliability and quality over a posh cabin and jealous looks, the Lexus LX 570 two-row is the Japanese Range Rover you need.Autosread more
Shares of Whole Foods dipped Tuesday after Goldman Sachs downgraded the stock to "sell" from "neutral," citing competition from all parts of the grocery industry and online.
"Whole Foods is experiencing a competitive barrage, losing share in its core natural and organic business to a variety of players," Goldman analysts said in a note to clients. "Wellness has gone mass, and it is not coming back, never again to be relegated to niche specialty retailers serving price-insensitive, early adopters."
Shares of the grocery retailer have fallen more than 15 percent year to date, trading down more than 1 percent at $34.18 on Tuesday. Goldman set a $31 price target for WFM, which would be a 10 percent fall from Monday's close.
Goldman is guarded on natural and organic incumbents like Whole Foods, which could be eclipsed by lower-priced, more convenient challengers. Some of these smaller players taking market share include Trader Joe's and The Fresh Market. Costco and Kroger could be the biggest threats to Whole Foods because of a focus on price and quality, the note said.
"The group has raised the competitive bar in natural and organic: a differentiated product offering is no longer sufficient," the Goldman note said.
Analysts said there is still opportunity for store growth, and Whole Foods could double its U.S. footprint with as many as 1,047 stores.
Goldman analysts don't expect growth in earnings, despite its premium multiple. They predicted tough results from existing stores, which may fail to offset profits from new store openings.
"Grocery is a mature, low-growth sector characterized by relentless competition that appears to be intensifying," the note said.
And one veteran player may be ready to get back on top amid this battle for shoppers, according to Goldman. The firm upgraded Kroger to buy from neutral with a $42 12-month price target that implies a 17 percent upside.
"Kroger looks best positioned among publicly traded pure-play grocers," the note said, adding that the company has voiced a commitment to an "economically sustainable e-commerce business."