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Has Whole Foods dropped enough to get interesting? Probably not yet. With a trailing price-earnings multiple still almost 20% higher than the S & P 500, average eps estimates hover around $.33 per share for the June 2008 quarter, $1.17 for the full year 2008, reflecting little or no growth from 2007. With higher fuel costs cutting into consumers' budgets, shoppers may feel pricey organic produce is a luxury, not a necessity.
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