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My Jun 20 analysis says that investors are worried that the problems in Europe could bring on a recession or at least a slowing of economic growth in the US. WFM is still relatively small overseas, but people may trim their spending as the slow down hits home. Hence, the pros are scaling back earnings expectations.

I find evidence most investors are moving into defensive positions. Dollar stores, Walmart. Dividend paying stocks.

Whole Foods has been through this before and has learned to appeal to the budget minded customer when necessary. So I doubt they will be much impacted. Their upscale customers will not cut back at all. But the wannabe's may have to.
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