Skip to comments.WARREN BUFFETT: 'I don't see smiles on the faces of people at Whole Foods'
Posted on 05/07/2015 4:36:26 AM PDT by Hojczyk
Whole Foods shares are getting crushed after earnings. The company reported record second quarter sales that still were below investors' expectations, and shares were down as much as 10% in after hours trade on Wednesday.
This past weekend at the Berkshire Hathaway annual shareholders' meeting this past weekend, CEO Warren Buffett singled out the company, saying that that the customers there simply don't seem like a happy bunch.
Here's some more color on what Buffett said, according to Time:
"Food and beverage companies will adjust to the expressed preferences of consumers. No company does well ignoring its consumers.
"Its amazing how durable [consumer brands are]. Berkshire Hathaway was the largest shareholder of General Foods from 1981 to 1984 thats 30-plus years ago. It was bought by Philip Morris and spun out as Kraft. Those same brands are popular today. Heinz goes back to 1869. The ketchup came out in the 1870s. Coca-Cola dates to 1886. Its a pretty good bet that a lot of people will like the same things."
Whole Foods is popular for its fresh and organic food options.
But Buffett is unapologetic for his junk food habits and the amount of coke he drinks.
He recently added Kraft Foods to his portfolio, the maker of Velveeta cheese, Oreos, and others.
And as his vice chairman and long time business partner Charlie Munger quipped: "Sugar is an enormously helpful substance. It prevents premature softening of the arteries."
In response to questions about holding investments in companies that make foods high in sugar (like Coca-Cola,) while consumers' diets shift towards healthier options, Buffett said (via Bloomberg): "I dont see smiles on the faces of people at Whole Foods."
(Excerpt) Read more at finance.yahoo.com ...
They don’t have smiles on their faces because they’re a bunch of tatted-up, liberal hippies with drug problems stuck in an existential dilemma.
I see pure evil in the face of Warren Buffett. His “charities” are all about abortion. In the past ten years, he’s bought 2-3 million abortions.
I've noticed that about liberals in general, not just liberals who are customers of Whole Foods.
This amuses me. Whole Foods bought out the entire first floor of a two-story Sears at a local mall. They have an entire restaurant inside. The prices are outlandish. I go to local farmer’s markets and get better food for lower prices. The only reason I go in there is to buy bulk grains such as quinoa, barley, sesame, and basmati rice.
What do Leftists have to look forward to? They are a self-hating bunch who are trying to change the world to accommodate their deformed ideals.
They sell luxury food items.
Under Obamacare Americans don’t have jobs.
Who is really surprised?
Most billionaires are liberal if there is profit in it.
Foster Friess is probably the most consistently conservative in my opinion and he has weak points.
I’d appreciate some facts to go along with the accusations.
Buffet's remark is childish. There's still a market for poisoned foods, for sure. But ignoring the trend toward healthy food does not seem like something the wisest investor on earth should be promoting.
Do you believe that the general (fresh) food supply from your local grocer is spoiled, poisoned, or otherwise inedible compared to foods available at stores such as Whole Foods?
I’m genuinely curious. The opinions vary widely.
When money is tight, or job's future is uncertain, people are more likely to look at cheaper alternatives.
Tasty food may not be healthy and politically-correct, but it does taste good and we'll all die eventually so why not enjoy the trip?
Fresh foods, local, organic, etc doesn't assure healthier foods. You have to look at the ingredients and sources. For me personally, I'd rather have canned foods that were fully ripened when harvested, without additives. Some of the stuff sold as "fresh" is treated for the market and harvested before it's ripened.
This is my personal approach, not the one others use. I shop by ingredients and only purchase foods from countries that have strict food standards and from US sources that are reputable for quality.
Understood. My question came from your comment about “poisoned” food, as I like to discuss the idea of “whole” and “organic” foods in general. Seems like hooey to me, but that’s just personal.
I don’t eat anything from a box or a bag save a very few exceptions such as frozen fruit and veggies in bags and the occasional bowl of cereal. We don’t buy much canned food, but with proper preparation, it tastes the same as fresh.
Yes, Warren Buffet is the worst. He plays a good game of being just a homespun investor, but he is the consummate insider.
I can’t stand the bastardhe was instrumental in the housing collapse, and now he has been buying thousands of homes for pennies on the dollar. Welcome to the New American Dream: Slumlord America.
And, yes, he supports abortion and Obama—nice heartland values!
‘________tatted up, liberal hippies________’
I go to Whole Foods here in Calif. about once a month because of a few items I cannot get elsewhere. I resent having to look at tattoos because I don’t know what I’m libel to see. How can I avoid seeing people’s uncovered arms, tatted, packing my groceries, etc.??? Or nose, eyebrow, tongue rings? YECH.
I don’t like having my young grandkids seeing that ap-cray, either.
We do frequent our local family-owned health food store - probably twice a week. We’ve been with them since they opened in the early 1970’s.
Back in the day, my spouse, a Field Base Personnel Administrator (yeah - before ‘human resources’ - bah - would not have hired anyone looking like a creature from the depths. Spouse would know how to do that without getting in trouble - - - so would plenty of others, and probably still do.
On the other hand, the company always scored great in Affirmative Action.
A hiring person hopefully advices the rejected applicant just how to dress and maybe other things, like speak - - - before they next apply for employment.
‘advices/adviSes’ Sorry - - -
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