Whole Foods: The Traffic Declines are ‘Staggering,’ Barclays Says

Shares of Whole Foods Market ( WFM ) are within spitting distance of their 52-week low, and investors have good reason for avoiding the stock, which has tumbled 11% during the past 12 months. There's competition from Trader Joe's . Competition from Sprouts Famers Market ( SFM ). Competition from Kroger ( KR ). There's it's high prices . But the biggest problem might be the number of customers who have fled the high-end grocer. In fact, Barclays analyst Karen Short and team call "the magnitude of the traffic declines – when discussed in numbers (not %)...staggering." They explain: