Whole Foods Market (WFM) , Kroger (KR) Trade Lower in Sympathy with Sprouts Farmers Market (SFM)
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RBC Capital Cuts Price Target on Sprouts Farmers Market (SFM) to $31; Reiterates Outperform
September 9, 2016 7:09 AM EDTRBC Capital maintained an Outperform rating on Sprouts Farmers Market (NASDAQ: SFM), and cut the price target to $31.00 (from $33.00). Sprouts lowered its 3Q and FY16 guidance ahead of presenting at a competitor conference to reflect persistent deflationary pressures and intensified promotional environment. Sprouts... More
Goldman Sachs Says Sprouts Farmers Market's (SFM) Guidance Could be Sign of 'Steep Change' in Competitive Environment
September 7, 2016 8:54 AM EDTSprouts Farmers Market (NASDAQ: SFM) dropped sharply pre-market Wednesday, dragging peers Whole Foods Market (NASDAQ: WFM) and Kroger (NYSE: KR) lower. The three stocks were indicated to open lower by 13%, 3.5% and 3%, respectively.
The malaise followed updated guidance from Sprouts ahead of... More
Piper Jaffray Reiterates Underweight on Kroger (KR) Ahead of 2Q Report
September 7, 2016 8:52 AM EDTPiper Jaffray reiterated an Underweight rating and $31.00 price target on Kroger (NYSE: KR) ahead of the company's 2Q earnings report.
Analyst Sean Naughton commented, "Over the course of Q2 earnings reports, we have consistently heard about weakness from deflation, food stamp cuts and... More
Sprouts Farmers Market (SFM) Trims Q3, FY16 Outlook; Approves $250M Stock Buyback Plan
September 7, 2016 6:58 AM EDTSprouts Farmers Market, Inc. (Nasdaq: SFM) announced updated guidance in advance of participation in the Goldman Sachs 23rd Annual Global Retailing Conference on September 8, 2016. This update reflects the impact of significant ongoing deflation, the stepped-up promotional environment and our cautious outlook for the remainder of the year. Comparable store sales growth for the third quarter ending October 2, 2016 is now expected to be approximately flat. The prolonged deflationary... More
