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Whole Foods Market, Inc. Message Board

  • p51mstng2002 p51mstng2002 Feb 4, 2003 11:26 AM Flag

    Debentures?

    There was a press release yesterday concerning $147 Million in convertible debentures. WFMI is saying they will purchase with cash, if holders exercise. As I read it, the conversion would be at $44.81/Sh equiv price; so why would holders have any incentive to sell them now at the lower than market price? Likewise, why would WFMI want to call them at this time? Is the market just panicking at this news??

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    • You can run water uphill for only so long before you have to pay the consequences.

      Slumping economy, declining product quality, and revenue growth fueled primarily by opening new stores (sorry, but Starbucks already showed that model doesn't work forever) may be catching up with WFMI. You should be thankful for how long the rally lasted, especially considering how much the majority of stocks have declined.

      • 1 Reply to tybalt
      • I find myself in the odd position of defending WF, but could you please better explain some of the comments you made in your last post:

        "pay the consequences"?

        "revenue growth fueled primarily by new
        stores"?

        I'm negative on WF because I think the stock price is based on a growth rate that simply can't be maintained. Having said that however, I see no evidence so far that their exiting stores are turning in anything less than stellar results.

 
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