Whole Foods (WFM) warned shareholders that it will take a one-time charge for losses related to Hurricane Sandy. Investors raced out of the stock, causing it to drop more than 5% Thursday.
The Sandy-related worries forced investors to ignore an otherwise solid quarter in which sales spiked 24%. Sales at stores open for more than one year jumped 8.5%, and profits rose 49%. Whole Foods CEO John Mackey said the retailer's pace of opening new stores continues to increase.
With today as a glaring exception, investors have generally been as giddy about the grocer's stock as many consumers are at its perpetually packed salad bars. The stock is up more than 30% this year.
Some traders on StockTwits were willing to overlook Sandy's short-term effects and focus instead on long-term positive trends for the organic retailer.
As people in the New York area restock their refrigerators, some traders even think Sandy could help boost sales this quarter.
Still the question of just how much people will be willing to fork over for more expensive, organic food worries some traders.
We haven't seen $15 bananas at Whole Foods ... yet.