Whole Foods’ Earnings Jump 27% on Sales Gain
From Associated Press
Whole Foods Market Inc.’s earnings grew 27% in the latest quarter because of store expansions, higher same-store sales and healthy margins.
The chain posted earnings of $49.1 million, or 73 cents a share, for the fiscal first quarter ended Jan. 16, up from $38.7 million, or 64 cents, a year earlier. Sales rose 22% to $1.37 billion.
Thomson First Call said analysts had expected earnings of 68 cents a share for the latest quarter.
After the release of the results, Whole Foods shares rose $4.54, or 5%, to $94.89 in extended trading on Nasdaq. Earlier, they closed down $1.26 to $90.35.
