Whole Foods’ profit misses
- Share via
Whole Foods Market Inc. posted lower quarterly profit, missing analysts’ estimates by a penny, as it booked charges related to its $565-million acquisition of rival Wild Oats Markets in August.
Despite a 28% rise in sales during the quarter, the natural and organic foods seller left its fiscal 2008 sales outlook unchanged.
The Austin, Texas-based company had fiscal second-quarter net income of $40 million, or 29 cents a share, compared with $46 million, or 33 cents, a year earlier.
Analysts, on average, had been expecting earnings of 30 cents, according to Reuters Estimates.
Charges related to its Wild Oats acquisition lowered earnings by about 6 cents a share, Whole Foods said.
Revenue rose nearly 28% in the quarter to $1.9 billion, matching Wall Street estimates.
Whole Foods shares declined 8.6% to $30.74 in extended trading after closing at $33.64, down 11 cents, in the regular session.
Inside the business of entertainment
The Wide Shot brings you news, analysis and insights on everything from streaming wars to production — and what it all means for the future.
You may occasionally receive promotional content from the Los Angeles Times.
