Friday, November 7, 2008

Whole Foods gets a bailout; Luby's doesn't - yet

Not unexpectedly, the economic tough times are taking a toll on high-end supermarkets like Whole Foods. But there's always someone willing to throw good money after bad.

Whole Foods

Whole Foods had a bad quarter. No big surprise. Fortunately a sugar-daddy stepped in with a wad of cash to provide the "financial flexibility to manage through these difficult economic times." We'll see.

For a hilarious take on the Whole Foods phenomenon including the recent troubles, check out Tim Hayward at the Gaurdian. He actually called Whole Foods a "grotesquely overpriced bunny-food emporium." And I thought I was hard on Whole Foods!

Meanwhile, Luby's reported a 3.7 million dollar loss for the quarter. Ouch. I guess the price increase hasn't kicked in yet.

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