Whole Foods is sliding after missing on earnings and slashing its guidance

Whole Foods is sliding after announcing quarterly earnings that fell short of Wall Street estimates in addition to slashing its full-year guidance.

The upscale grocery chain earned $0.30 per share versus the Wall Street estimate of $0.39. On an adjusted basis, earnings were in-line at $0.39 per share.

Revenue rose 1.8% versus a year ago to $4.92 billion, but that was below the $4.98 billion that was expected.

Shares of Whole Foods are down about 4% in after-hours trading on Wednesday.

Comparable-store sales - at locations open for at least one year - fell 2.4%, greater than the expected decline of 1.7%.

The company says it sees full-year 2017 adjusted EPS of at least $1.33, which is below their previous estimate of $1.42 and short of the $1.44 that analysts were anticipating.