This is a total cop out response “This time, general economic performance isn’t the culprit however – charges of overcharging in its New York locations coupled with emerging competitors in the fresh and organic market (like Target and Walmart) seem to have paired up to continue to erode the grocery’s sales.

1.Unless the pricing errors were across all 400 of their stores, then you can’t blame that as a reason for slow sales growth
2.I’m sorry , but Walmart and Whole Foods are not going after the same demographic……not buying that one either…. I doubt they would find even a handful of their customers that also buy groceries at Walmart……. Even Target is a bit of a stretch in that regard, there might be some slight overlap

Why don’t we look at the real culprit, their unstainable pricing model in general….. Even affluent customers can be frugal at times and if they can get the same type of food elsewhere and save money, they will. The novelty of their concept is wearing thin, especially in larger markets where there is stiff competition.

I’ll use a few stores in my area as a comparison. Fresh Thyme (similar concept) and Mosley’s Meat Market a local butcher (only deals with local family farms)
Sausages (made in the store)
Whole Foods, regular price is generally $7.99lb, Fresh Thyme $3.99lb ($2.99 sales) and Mosley’s $4.99 They all carry similar kinds, brats, Italian, breakfast style, chorizo, chicken or turkey, etc.

Chicken
Whole Foods $2.49lb, Fresh thyme $1.99lb, Mosley’s varies between $1.29-$1.99

Shrimp
Whole Foods $15.99lb and that was the sale price ( no country of origin listed)
Fresh Thyme $3.49 lb sale price (Farm Raised Thailand)
Giant Eagle Market District $9.99lb (Gulf Shrimp), 10.99lb (Argentina )

Chicken is about the only area in meat and seafood where they are comparable, everything else the local competitors blow them away on prices for the same product