Whole Foods Market delivered a disappointing 2013 outlook as far as investors are concerned but the company's co-chief executive told CNBC on Friday that they recognize consumers are focused on value right now.
"You're seeing a backdrop, a background ... of generally kind of a little more uncertainty out there right now with the GDP growth and so forth," said Walter Robb, the company's co-CEO. "I think you're looking at customers that are more attenuated to value in the offerings."
To combat its reputation as "Whole Paycheck," the company has sought to keep prices down for consumers.
Robb told CNBC's "Squawk on the Street" that the grocer's decision to keep prices low was not spurred by discount store Wal-Mart's position in the organic market.