Wild Oats Posts 1st-Quarter Profit
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Wild Oats Markets Inc., North America’s second-largest natural-foods grocer, had a first-quarter profit after five straight quarterly losses. Its shares rose as much as 26%.
Net income was $668,000, or 3 cents a share, contrasted with a loss of $118,000 in the year-earlier quarter, the company said. It broke even on a per-share basis in the year-ago period.
Wall Street had expected the company to lose 3 cents.
Sales rose 6.2% to $233 million and same-store sales climbed 7.3% as the company increased advertising and pricing promotions.
The shares of Boulder, Colo.-based Wild Oats rose $3.15 to $13.95 on Nasdaq.
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