Whole Foods tops 2Q profit forecasts
AUSTIN, Texas — Whole Foods Market Inc. on Wednesday reported fiscal second-quarter net income of $158 million.
The Austin, Texas-based company said it had net income of 44 cents per share. Earnings, adjusted for non-recurring gains, came to 43 cents per share.
The results surpassed Wall Street expectations. The average estimate of 17 analysts surveyed by Zacks Investment Research was for earnings of 42 cents per share.
The grocery chain posted revenue of $3.65 billion in the period, missing Street forecasts. Ten analysts surveyed by Zacks expected $3.71 billion.
Whole Foods shares have fallen slightly more than 5 percent since the beginning of the year, while the Standard & Poor’s 500 index has risen 1 percent. In the final minutes of trading on Wednesday, shares hit $47.72, falling slightly in the last 12 months.
The Associated Press
