Image Source: Sprouts Farmers Market.
Shares of Sprouts Farmers Market Inc. (NASDAQ: SFM) were getting sold off Wednesday after the organic grocer lowered its guidance for the current quarter and full year. As of 12:40 p.m. EDT, the stock was down 13.6%.
Ahead of its participation in the Global Retailing Conference Thursday, Sprouts dumped the bad news today, blaming its newly weakened outlook on ongoing food price deflation and an increased promotional environment.