Whole Foods Suffers As Kroger Gets In Organic Game

Whole Foods is sinking in the stock market today on weak quarterly earnings and four analyst downgrades. The company said late Wednesday that comps fell sharply in the last two weeks of the quarter, after officials in New York City said the grocer was overcharging its customers. And Whole Foods' long-time nickname is "Whole Paycheck." The stock gapped down in heavy turnover Thursday, hitting its lowest level since January 2012 intraday. Whole Foods is also trading nearly 40% below its February high. Whole Foods plans to open a chain of small-format stores that have lower prices, called "365." It's seeing increased competition from mainstream grocers, like Kroger, who are expanding their offerings of natural and organic products. Kroger is trading near highs. The stock is just under a 38.97 buy point from a four-month-long flat base. Shares are up more than 20% so far this year.