Whole Foods Market Q3 Profit Rises

(RTTNews) - Whole Foods Market, Inc. (WFM) reported net income for the third quarter of $142 million or $0.38 per share, compared to $117 million or $0.31 per share for the year-ago quarter.

Sales for the quarter increased 12% to $3.06 billion from $2.73 billion a year ago. Same-store sales increased 7.5%, and identical store sales, excluding four relocations and one expansion, increased 7.2%.

Analysts polled by Thomson Reuters expected the company to earn $0.37 per share on revenue of $3.09 billion for the third quarter.

Looking forward to the fourth quarter, the company forecasts sales growth of 3% to 4% and earnings of $0.30 to $0.31 per share. Analysts currently expect the company to earn $0.31 per share on sales growth of 5.20%.

The company raised its fiscal year 2013 earnings guidance to a range of $1.45 to $1.46 per share from its prior guidance of $1.43 to $1.45 per share. The company now expects fiscal 2013 sales growth of 11%, compared to its previous estimate of 10% to 11% growth. Analysts currently expect the company to earn $1.45 per share on sales growth of 11.40%. For fiscal year 2014, the company expects sales growth of 12% to14% and earnings per share of $1.69 to $1.72. Analysts currently expect the company to earn $1.72 per share on sales growth of $14.20%.