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1,193 word article from January 2001 issue.
It’s been “a volatile year for the stocks of both of these companies,” noted Carole Buyers, senior vice president of equity research at Tucker Anthony Capital Markets (Denver, Colo.) of Whole Foods and Wild Oats. “The volatility is a function of company-specific issues more than market conditions.”
How volatile? In 2000, Whole Foods’ stock shot up a whopping 48%—during a time when the Nasdaq plunged 21%. The natural grocer’s stock enjoyed a healthy rebound despite shockwaves felt when Whole Foods abandoned its internet venture, Whole-people.com, earlier in the year and wrote off Amrion, its manufacturing and mail order component, in the fourth quarter.
With 117 stores nationwide and $2 billion in revenues, Whole Foods is now a retail powerhouse, ranked as the 26th largest food and drug company in the U.S. Most recently, Whole Foods announced plans to open a store in Canada. Wild Oats, by contrast, is floundering. Wild Oats stock was down 83% in 2000, reported Buyers, who has called for the company to sell. Falling valuations and a leveraged balance sheet add to the company’s woes...
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