SECURITIES AND EXCHANGE COMMISSION

                             Washington, D.C. 20549

                                ----------------

                                  SCHEDULE 13G
                                 (Rule 13d-102)

                                ----------------

    INFORMATION TO BE INCLUDED IN STATEMENTS PURSUANT TO RULES 13d-1(b), (c)
          AND (d) AND AMENDMENTS THERETO FILED PURSUANT TO 13d-2 UNDER
          THE SECURITIES EXCHANGE ACT OF 1934 (Amendment No. _______)*

                             WILD OATS MARKETS, INC.
                                (Name of Issuer)

                    Common Stock, $0.001 Par Value Per Share
                         (Title of Class of Securities)

                                    96808B107
                                 (CUSIP Number)

                                   May 2, 2005
             (Date of Event Which Requires Filing of this Statement)

     Check the appropriate box to designate the rule pursuant to which this
Schedule is filed:

     [ ] Rule 13d-1(b)

     [X] Rule 13d-1(c)

     [ ] Rule 13d-1(d)

-----------

     * The remainder of this cover page shall be filled out for a reporting
person's initial filing on this form with respect to the subject class of
securities, and for any subsequent amendment containing information which would
alter the disclosures provided in a prior cover page.

     The information required in the remainder of this cover page shall not be
deemed to be "filed" for the purpose of Section 18 of the Securities Exchange
Act of 1934 ("Act") or otherwise subject to the liabilities of that section of
the Act but shall be subject to all other provisions of the Act (however, see
the Notes).




Schedule 13G

CUSIP No. 96808B107                                                PAGE 2 OF 9
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(1)      NAME OF REPORTING PERSON
         S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON 
         Prentice Capital Management, LP
------------------------------------------------------------------------------
(2)      CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
                                                            (a)[ ]
                                                            (b)[X]
------------------------------------------------------------------------------
(3)      SEC USE ONLY
------------------------------------------------------------------------------
(4)      CITIZENSHIP OR PLACE OF ORGANIZATION
                           Delaware
------------------------------------------------------------------------------

NUMBER OF                  (5)      SOLE VOTING POWER
                                                     0
SHARES                     ---------------------------------------------------

BENEFICIALLY               (6)      SHARED VOTING POWER
                                                     1,776,477
OWNED BY                   ---------------------------------------------------

EACH                       (7)      SOLE DISPOSITIVE POWER
                                                     0
REPORTING                  ---------------------------------------------------

PERSON WITH                (8)      SHARED DISPOSITIVE POWER
                                                     1,776,477
------------------------------------------------------------------------------
         (9)      AGGREGATE AMOUNT BENEFICIALLY OWNED 
                  BY EACH REPORTING PERSON
                                                     1,776,477
------------------------------------------------------------------------------
         (10)     CHECK BOX IF THE AGGREGATE AMOUNT
                  IN ROW (9) EXCLUDES CERTAIN SHARES                     [ ]
------------------------------------------------------------------------------
         (11)     PERCENT OF CLASS REPRESENTED 
                  BY AMOUNT IN ROW (9)
                                                     6.22%
------------------------------------------------------------------------------
         (12)     TYPE OF REPORTING PERSON
                                                     PN
------------------------------------------------------------------------------




Schedule 13G

CUSIP No. 96808B107                                                PAGE 3 OF 9

------------------------------------------------------------------------------
(1)      NAME OF REPORTING PERSON
         S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON 
         Michael Zimmerman
------------------------------------------------------------------------------
(2)      CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
                                                            (a)[ ]
                                                            (b)[X]
------------------------------------------------------------------------------
(3)      SEC USE ONLY
------------------------------------------------------------------------------
(4)      CITIZENSHIP OR PLACE OF ORGANIZATION 
                           United States of America
------------------------------------------------------------------------------

NUMBER OF                  (5)      SOLE VOTING POWER
                                                     0
SHARES                     ---------------------------------------------------

BENEFICIALLY               (6)      SHARED VOTING POWER
                                                     1,776,477
OWNED BY                   ---------------------------------------------------

EACH                       (7)      SOLE DISPOSITIVE POWER
                                                     0
REPORTING                  ---------------------------------------------------

PERSON WITH                (8)      SHARED DISPOSITIVE POWER
                                                     1,776,477
------------------------------------------------------------------------------
         (9)      AGGREGATE AMOUNT BENEFICIALLY OWNED 
                  BY EACH REPORTING PERSON
                                                     1,776,477
------------------------------------------------------------------------------
         (10)     CHECK BOX IF THE AGGREGATE AMOUNT
                  IN ROW (9) EXCLUDES CERTAIN SHARES                     [ ]
------------------------------------------------------------------------------
         (11)     PERCENT OF CLASS REPRESENTED 
                  BY AMOUNT IN ROW (9)
                                                     6.22%
------------------------------------------------------------------------------
         (12)     TYPE OF REPORTING PERSON
                                                     IN
------------------------------------------------------------------------------




Schedule 13G

CUSIP No. 96808B107                                                PAGE 4 OF 9

ITEM 1(a).  NAME OF ISSUER:

            WILD OATS MARKETS, INC. (the "Company")

ITEM 1(b).  ADDRESS OF ISSUER'S PRINCIPAL EXECUTIVE OFFICES:

            3375 Mitchell Lane
            Boulder, CO  80301

ITEM 2(a).  NAME OF PERSON FILING:

     This statement is filed by the entities and persons listed below, all of
whom together are referred to herein as the "Reporting Persons":

                  (i)      Prentice Capital Management, LP, a Delaware limited
                           partnership ("Prentice Capital Management"), with
                           respect to the shares reported in this Schedule 13G
                           held by certain investment funds and managed
                           accounts.

                  (ii)     Michael Zimmerman, who is the Managing Member of (a)
                           Prentice Management GP, LLC, the general partner of
                           Prentice Capital Management, LP and (b) Prentice
                           Capital GP, LLC, the general partner of certain
                           investment funds, with respect to the shares reported
                           in this Schedule 13G held by certain investment funds
                           and managed accounts.

ITEM 2(b).  ADDRESS OF PRINCIPAL BUSINESS OFFICE:

     The address of the principal business office of Prentice Capital Management
and Mr. Zimmerman is 623 Fifth Avenue, 32nd Floor, New York, New York 10022.

ITEM 2(c).  CITIZENSHIP:

     Prentice Capital Management is a Delaware limited partnership. Michael
Zimmerman is a United States citizen.

ITEM 2(d).  TITLE OF CLASS OF SECURITIES:  COMMON STOCK, PAR VALUE $0.001 PER 
            SHARE

ITEM 2(e).  CUSIP NUMBER:      96808B107




Schedule 13G

CUSIP No. 96808B107                                               PAGE 5 OF 9

ITEM 3. IF THIS STATEMENT IS FILED PURSUANT TO 13d-1(b) OR 13d-2(b) OR (c),
CHECK WHETHER THE PERSON FILING IS A:

            (a)[ ] Broker or dealer registered under Section 15 of the Act;

            (b)[ ] Bank as defined in Section 3(a)(6) of the Act;

            (c)[ ] Insurance Company as defined in Section 3(a)(19) of the Act;

            (d)[ ] Investment Company registered under Section 8 of the 
                   Investment Company Act of 1940;

            (e)[ ] Investment Adviser registered under Section 203 of the 
                   Investment Advisers Act of 1940:  see Rule 
                   13d-1(b)(1)(ii)(E);

            (f)[ ] Employee Benefit Plan, Pension Fund which is subject to the 
                   provisions of the Employee Retirement Income Security Act of 
                   1974 or Endowment Fund; see Rule 13d-1(b)(1)(ii)(F);

            (g)[ ] Parent Holding Company, in accordance with Rule 
                   13d-1(b)(ii)(G);

            (h)[ ] Savings Associations as defined in Section 3(b) of the 
                   Federal Deposit Insurance Act;

            (i)[ ] Church Plan that is excluded from the definition of an 
                   investment company under Section 3(c)(14) of the Investment 
                   Company Act of 1940;

            (j)[ ] Group, in accordance with Rule 13d-1(b)(1)(ii)(J).

     IF THIS STATEMENT IS FILED PURSUANT TO Rule 13d-1(c), CHECK THIS BOX. [x]




Schedule 13G

CUSIP No. 96808B107                                                PAGE 6 OF 9

ITEM 4.     OWNERSHIP.

     Prentice Capital Management serves as principal investment manager to a
number of investment funds (including Prentice Capital Partners, LP, Prentice
Capital Partners QP, LP and Prentice Capital Offshore, Ltd.) and manages
investments for certain entities in managed accounts with respect to which it
has voting and dispositive authority over the Shares reported in this Schedule
13G. Mr. Zimmerman is the Managing Member of (a) Prentice Management GP, LLC,
the general partner of Prentice Capital Management and (b) Prentice Capital GP,
LLC, the general partner of certain investment funds. As such, he may be deemed
to control Prentice Capital Management and certain of the investment funds and
therefore may be deemed to be the beneficial owner of the securities reported in
this Schedule 13G.

     To the extent permitted by law, each Reporting Person disclaims beneficial
ownership of all of the securities covered by this statement.

     A.   Prentice Capital Management

          (a) Amount beneficially owned: 1,776,477

          (b) Percent of class: 6.22%

          (c) Number of shares as to which such person has:

              (i)   sole power to vote or to direct the vote: 0

              (ii)  shared power to vote or to direct the vote: 1,776,477

              (iii) sole power to dispose or to direct the disposition: 0

              (iv)  shared power to dispose or to direct the disposition:
                    1,776,477

     B.   Michael Zimmerman

          (a) Amount beneficially owned: 1,776,477

          (b) Percent of class: 6.22%

          (c) Number of shares as to which such person has:

              (i)   sole power to vote or to direct the vote: 0

              (ii)  shared power to vote or to direct the vote: 1,776,477

              (iii) sole power to dispose or to direct the disposition: 0

              (iv)  shared power to dispose or to direct the disposition:
                    1,776,477




Schedule 13G

CUSIP No. 96808B107                                                PAGE 7 OF 9


ITEM 5.     OWNERSHIP OF FIVE PERCENT OR LESS OF A CLASS.

            Not applicable.

ITEM 6.     OWNERSHIP OF MORE THAN FIVE PERCENT ON BEHALF OF ANOTHER PERSON.

            Not applicable.

ITEM 7.     IDENTIFICATION AND CLASSIFICATION OF THE SUBSIDIARY WHICH ACQUIRED 
            THE SECURITY BEING REPORTED ON BY THE PARENT HOLDING COMPANY.

            Not applicable.

ITEM 8.     IDENTIFICATION AND CLASSIFICATION OF MEMBERS OF THE GROUP.

            See Item 4.

ITEM 9.     NOTICE OF DISSOLUTION OF GROUP.

            Not applicable.

ITEM 10.    CERTIFICATION.  (if filing pursuant to Rule 13d-1(c))

     Each of the Reporting Persons hereby makes the following certification:

     By signing below each Reporting Person certifies that, to the best of its
knowledge and belief, the securities referred to above were not acquired and are
not held for the purpose of or with the effect of changing or influencing the
control of the issuer of the securities and were not acquired and not held in
connection with or as a participant in any transaction having that purpose or
effect.




Schedule 13G

CUSIP No. 96808B107                                                PAGE 8 OF 9

                                   SIGNATURES

     After reasonable inquiry and to the best of our knowledge and belief, the
undersigned certify that the information set forth in this statement is true,
complete and correct.



DATED:  May 12, 2005            PRENTICE CAPITAL MANAGEMENT, LP
                                By: Prentice Management GP, LLC,
                                its General Partner

                                /s/ Michael Zimmerman
                                -------------------------------
                                Name:  Michael Zimmerman
                                Title: Managing Member

                                MICHAEL ZIMMERMAN

                                /s/ Michael Zimmerman
                                -------------------------------
                                Michael Zimmerman




Schedule 13G

CUSIP No. 96808B107                                                PAGE 9 OF 9

                                    EXHIBIT 1

                           JOINT ACQUISITION STATEMENT

                            PURSUANT TO RULE 13d-1(k)

     The  undersigned  acknowledge  and agree that the  foregoing  statement  on
Schedule  13G,  is  filed  on  behalf  of each of the  undersigned  and that all
subsequent  amendments  to this  statement  on Schedule  13G,  shall be filed on
behalf of each of the  undersigned  without the  necessity of filing  additional
joint  acquisition  statements.  The undersigned  acknowledge that each shall be
responsible for the timely filing of such  amendments,  and for the completeness
and accuracy of the  information  concerning  him or it contained  therein,  but
shall not be responsible  for the  completeness  and accuracy of the information
concerning the others, except to the extent that he or it knows or has reason to
believe that such information is inaccurate.



DATED:  May 12, 2005            PRENTICE CAPITAL MANAGEMENT, LP
                                By: Prentice Management GP, LLC,
                                its General Partner

                                /S/ MICHAEL ZIMMERMAN
                                -------------------------------
                                Name:  Michael Zimmerman
                                Title: Managing Member

                                MICHAEL ZIMMERMAN

                                /S/ MICHAEL ZIMMERMAN
                                -------------------------------
                                Michael Zimmerman