On his Mad Dash segment in CNBC, Jim Cramer said of Whole Foods, “This is the beginning of the turn.” Whole Foods had been a challenged stock for a few quarters as analysts were concerned about competition. Whole Foods was a pioneer in the organic and natural supermarket space, until competitors sprouted up and mainstream supermarkets began carrying healthy brands.
While Cramer said management sounded “downbeat” earlier in the year, “they are back and better than ever.” The company is winning with its new card program, wine club, mobile app and the refurbishment of 10% of its stores. “It all came together for Whole Foods in just one quarter.” The stock rose 10% following its successful quarterly report.
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