Whole Foods in DEEP financial trouble; Sales plummet following deceptive anti-labeling position with Monsanto

Things are looking grim for Whole Foods, where sales have plummeted as health-minded consumers are taking their business elsewhere

In 2014, then-CEO John Mackey revealed times were becoming harder due to the competition getting larger as more health food stores opened up at a speedy rate.

“The growing demand for fresh, healthy foods, the offering of natural and organic products is expanding everywhere [in] new stores, existing stores and online,” said Mackey.

Scandals have also hit Whole Foods recently, with allegations of price-gouging, and of conspiring with Monsanto in the hope of the passing of a bill that bans the labeling of foods made with genetically modified organisms. 

Even before these recent scandals, Whole Foods was in danger due to falling profits. With more organic stores and people opting to buy fresh from farmers markets, the initial novelty of whole foods waned, destroying the monopoly Whole Foods had over the organic market. 

Organic food sales were $11 billion in 2004, and they had tripled by 2014. The organic food market as a whole had grown from $6 billion in 1998 to $48 billion by 2012.

The big shift in the market occurred when Walmart entered the market in 2014, introducing a store-brand organics line priced 25 percent lower than its other organic products.

The rumours of Whole Foods price gouging and cheating customers with false weights and measures came about last year, from New York regulators. 

The company’s sales have fallen every quarter for the past year and have announced another 2.1 percent drop expected for this quarter, added to the drop of 10% in the company's shares this year alone.

‘Organic Traitors?’

A potentially significant factor in the reduction of the Whole Foods base, is the company’sinclusion in the recent passage of the Denying Americans the Right to Know (DARK) Act 2.0. It was falsely proposed as a GMO labeling bill, the DARK Act 2.0 actually banned all GMO labeling initiatives passed by state or local governments. 

Angering the consumer even more, the bill defines “GMO” so vaguely, that 95 percent of GMO products on the market at the moment are allowed to be labeled as non-GMO

According to the Center for Food Safety the DARK Act 2.0 would not have been passed if Whole Foods and other major corporations had not lent their support to the bill. This move tarred them with the same brush as Monsanto and the Grocery Manufacturers Association.

Others considered “organic traitors” include UNFI (the country’s largest organic and natural foods wholesaler) and the Organic Trade Association, who represent companies like Organic Valley, White Wave and Smuckers.

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Whole Foods in DEEP financial trouble; Sales plummet following deceptive anti-labeling position with Monsanto Whole Foods in DEEP financial trouble; Sales plummet following deceptive anti-labeling position with Monsanto Reviewed by C C on 16:58:00 Rating: 5
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