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4-Traders Homepage  >  Equities  >  Nasdaq  >  Whole Foods Market, Inc.    WFM

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Whole Foods Market : New York City to Require Calorie Counts on Prepared Food at Chain Stores

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05/18/2017 | 10:39pm CEST
By Mara Gay 

Supermarkets and large chain retailers in New York City will soon be required to post calorie counts for prepared foods under an expansion of the city health code.

The new rules, announced by Mayor Bill de Blasio's administration late Thursday, would apply to food retailers with at least 15 locations nationwide.

Beginning Monday, businesses like 7-Eleven and Whole Foods will be required to post calorie counts for standard menu items. They will also be required to make nutritional information about those meals available upon request.

"When we think about what's really killing New Yorkers before their time...is chronic diseases that are driven by poor nutrition," said Dr. Oxiris Barbot, first deputy commissioner with the Department of Health and Mental Hygiene, in a phone interview.

The expansion of the city's health code is the latest measure in a decade-long push to improve New Yorkers' health that began under former Mayor Michael Bloomberg and has continued under Mr. de Blasio.

The city began requiring calorie counts at chain restaurants in 2008. In late 2015, it began requiring them to post a symbol of a salt shaker on the menu beside items that contain at least 2,300 milligrams of sodium.

New York adopted the newest rules in 2015, but hasn't implemented them until now because of a delay in the adoption of similar rules under consideration at the U.S. Food and Drug Administration. On Thursday, city officials said they would move forward anyway.

"Every day that we delay is denying New Yorkers something that could improve their health," Dr. Barbot said.

Jay Peltz, general counsel and vice president of government relations at the Food Industry Alliance, said the group opposes the expansion. Mr. Peltz said the grocery retailers he represents were particularly concerned that they would expend resources to comply with city rules that could then be made invalid with a change in the federal rules. And he questioned whether New York City had the jurisdiction to regulate grocery stores.

Write to Mara Gay at [email protected]

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Financials ($)
Sales 2017 15 915 M
EBIT 2017 720 M
Net income 2017 387 M
Debt 2017 261 M
Yield 2017 1,77%
P/E ratio 2017 27,46
P/E ratio 2018 25,02
EV / Sales 2017 0,72x
EV / Sales 2018 0,70x
Capitalization 11 223 M
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Whole Foods Market, Inc. Technical Analysis Chart | WFM | US9668371068 | 4-Traders
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Mean consensus HOLD
Number of Analysts 26
Average target price 33,7 $
Spread / Average Target -4,0%
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Managers
NameTitle
John P. Mackey Chief Executive Officer & Director
A. C. Gallo President & Chief Operating Officer
Gabrielle Sulzberger Chairman
Keith Manbeck Chief Financial Officer & Executive Vice President
Jason J. Buechel Chief Information Officer & Executive VP
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