A persistent slide in food prices is putting pressure on more U.S. grocers and distributors, weighing down their stocks and prompting some to revise full-year earnings outlooks.
Sprouts Farmers Market Inc. cut its quarterly and 2016 guidance Wednesday because of “significant ongoing deflation” that it said isn’t likely to let up for months.
Shares of Arizona-based Sprouts tumbled 14% to end Wednesday at $19.68, their lowest close in more than a year.
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