Whole Foods Profit Jumps in Quarter
Whole Foods Market Inc., the nation’s largest natural-foods grocer, said earnings climbed 37% in its fiscal third quarter and boosted its full-year forecast.
Net income rose to $22.1 million, or 36 cents a share, in the period ended July 7, as sales jumped 21% to $648.7 million from $535.6 million.
The Austin, Texas-based retailer is luring customers with gourmet foods, a wide selection of meat and fish and private-label goods, which are more profitable than national brands, analysts have said.
Whole Foods raised its full-year forecast to $1.36 to $1.40 a share, from $1.30 to $1.36.
The news sent shares of Whole Foods up to as much as $40.98 in extended trading, after closing off $1.34 at $38.59 on Nasdaq.
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