>> Whole Foods getting a new major shareholder that's already pledging to freshen things up at the struggling high end grocer, which could include an all-out sale of the company. Activist investor Jana Partners revealing Monday that it is now Whole Foods' second biggest shareholder with an 8% stake.>> I'm Conway Gittens in New York, investors hope that Jana will be Whole Foods' savior.
The organic and natural food supermarket quickly rose to the top of the heat, but its competitors have caught on and are now offering the same high quality food at lower prices and so sales have been declining at Whole Foods. Add to the mix Amazon, Walmart and even fresh food delivery companies like Blue Apron and Whole Foods has seen sales decline for six straight quarters.
>> And the outlook doesn't look much brighter, Whole Foods already slashing sales and profit forecasts for the year. Jana planning to use its bigger stake to push Whole Foods out of the safety zone. It's looking to shake up a board of directors that's been reluctant to even talk about strategic alternatives like a merger or a buyout deal.
Other investors cheering what they hope is going to happen next, shares of Whole Foods soaring 10% in the biggest one day gain in two and a half years.