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Whole Foods suspends dividend

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Written by Hugh McManus

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Whole Foods Markets Inc. [NASDAQ:WFMI], after posting disappointing third quarter results that failed to meet analysts' expectations, today announced suspension of its quarterly dividend.  The company also announced that it was cutting back on expansion plans by reducing the number of new store openings.   The erstwhile darling of Wall Street surprised many investors who assumed that this highend retailer was impervious to the market cycle.  The company also warned that sales projections would probably trail earlier forecasts.  The stock dropped almost 15% in afterhours trading. < Prev   Next >