$12 for a block of cheese? $15/lb salmon? $10 pre-sliced mixed fruit container? Those expenses don’t fit into the recession budget.
It’s official – Whole Foods profit for the 3rd quarter fell 31% from the previous year. The problem seems to be that some crazy consumers think Whole Foods is really expensive.
Lots of items at Whole Foods are expensive (my favorite is the $10 pre mixed fruit container), but if you shop wisely you can save money and still get superior products. From the WSJ:
Mark Miller, at William Blair & Co. Stock analysts who have done apples-to-apple comparisons report that Whole Foods, despite its image, is competitive on prices. The chain doesn’t sell the down-market brands its peer do, but where products overlap, and with its well-regarded private-label brand, Whole Foods is often as a good a deal or better than traditional grocers.
Look for a post soon about deals at Whole Foods, because as noted above some staples are actually cheaper.