Whole Foods Shares Jump as Profit Tops Estimates

Wednesday, 25 Jul 2012 04:26 PM

 

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Upscale grocer Whole Foods Market Inc reported quarterly profit that topped Wall Street's view after sales at established stores ca me in roughly where analysts expected and shares jumped more than 8 percent.

Net income at Whole Foods grew to $116.8 million, or 63 cents per share, for the third quarter that ended July 1, from $88.5 million, or 50 cents per share, a year earlier.

Analysts, on average, had expected a profit of 61 cents per share in the latest quarter, according to Thomson Reuters I/B/E/S.

Same-store sales at Whole Foods, the biggest U.S. grocery chain that focuses on organic and natural food products, w ere up 8.2 percent -- roughly in line with the 8. 4 percent gain analysts had expected, according to Thomson Reuters data.

Shares of Whole Foods soared 8.4 percent to $91.58 in extended trading.

© 2014 Thomson/Reuters. All rights reserved.

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