At least that is what Goldman Sachs is saying after downgrading Whole Foods to Sell from its previously held Neutral rating.
"Whole Foods is experiencing a competitive barrage, losing share in its core natural and organic business to a variety of players," said the investment bank.
Organic food once seen as a luxury, is becoming more of the norm and is increasingly available in supermarkets around the country and at a lower price point than the famously expensive Whole Foods.
As health becomes more of a trend, it has become more widespread and less of the niche in which Whole Foods operated so well for so long. "Wellness has gone mass, and it is not coming back, never again to be relegated to niche specialty retailers serving price-insensitive, early adopters," added Goldman Sachs.
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