Whole Foods cuts outlook, shares fall
May. 06, 2014
NEW YORK (AP) — Whole Foods reported a profit for its fiscal second quarter that fell short of Wall Street expectations, and the upscale grocer cut its outlook for the year.
The company, based in Austin, Texas, said sales at established locations rose 4.5 percent in the period, hurt by the shift of Easter to the third quarter this year.
For the quarter ended April 13, Whole Foods Market Inc. earned $142 million, or 38 cents per share, which was unchanged from last year. But analysts expected 41 cents per share in the latest quarter.
Revenue rose to $3.32 billion, but also fell short of the $3.34 billion Wall Street expected.
The company trimmed its sales and profit outlook for the year, sending its stock down nearly 10 percent in after-market trading.