One of Whole Foods Market’s (Austin, Texas) investors has issued a seven-point to-do list for the grocer. JANA Partners (New York), which owns about nine percent of the retailer, is one of the company’s largest investors, although other smaller investors also signed off on a securities filing that the firm filed this week.
The company has asked Whole Foods to address what it calls “chronic underperformance for shareholders.” Reviewing its real estate holdings is among the items it wants considered, including the company's 365 small-store formats. It also wants it to consider changing its management and the company’s board and looking at other options, including a possible sale, reports Austin American-Statesman.
Whole Foods responded saying, “We value constructive dialogue toward our shared goals of creating shareholder value, successfully executing on our strategic priorities and taking actions that will position the company for continued success.”