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The Chicago Tribune has a piece about John Mackey, founder and co-CEO of Whole Foods, in which he talks about the company's roller-coaster stock performance. The story notes that "Whole Foods stock has rebounded since last fall, but that follows a dramatic one-year decline amid analysts’ fears: too much competition, from established grocers as well as upstarts; overeager expansion; too many downward revisions of earnings forecasts."

Mackey says that he’s unfazed: “The market is manic-depressive. Bipolar. It tends to get overly enthusiastic about you at times. Other times, it thinks your whole concept’s doomed, and it bids the stock down. We’ve been public a long time. I’ve seen this before.”
KC's View:
What Whole Foods hasn't seen before is a plethora of competition - from traditional retailers such as Kroger and upstarts such as Sprouts - that threaten its longtime domination of the healthy food category. Which is why the company seems to be trying lots of different things - loyalty marketing, Instacart, a less expensive format - to recapture its mojo.