Whole Foods Market Posts Flat Q2 Profit; Cuts FY14 Outlook Again

(RTTNews) - Whole Foods Market, Inc. (WFM) reported net income for the second quarter of $142 million or $0.38 per share, compared to $142 million or $0.38 per share for the year-ago quarter.

Total sales for the second quarter increased 10% to a record $3.32 billion from $3.03 billion a year ago. Same-store sales, including a negative impact of about 50 basis points from Easter shifting from the second quarter last year to the third quarter this year, increased 4.5%.

Analysts polled by Thomson Reuters expected the company to earn $0.41 per share on revenue of $3.34 billion for the second quarter.

For the fiscal year 2014, the company said it now expects sales growth of 10.5% to 11.0% and earnings per share of $1.52 to $1.56. Previously, the company expected sales growth of 11% to 12% and earnings per share of $1.58 to $1.65.

Analysts currently expect the company to earn $1.61 per share on revenue growth of 11.20% for the fiscal year 2014.