Whole Foods Market Q3 Profit Rises - Quick Facts

(RTTNews) - Whole Foods Market, Inc. (WFM) reported that its third-quarter net income increased to $151 million or $0.41 per share, from $142 million or $0.38 per share, prior year.

On average, 31 analysts polled by Thomson Reuters expected the company to report profit per share of $0.39 for the quarter. Analysts' estimates typically exclude special items.

Sales were $3.38 billion, compared to $3.06 billion, prior year. Analysts expected revenue of $3.39 billion for the quarter.

Comparable store sales for the 12-week third quarter ended July 6, 2014, increased 3.9%, including a positive impact of approximately 60 basis points from Easter shifting from the second quarter last year to the third quarter in the current year.

The company's Board announced a new share repurchase program with $1 billion in authority through August 1, 2016, and canceled the $322 million in remaining authority under the existing share repurchase program.

The company now expects its fiscal 2014 earnings per share in the range of $1.52-$1.54, compared to a prior guidance range of $1.52-$1.56. Sales growth is currently expected to be in the range of 9.6% - 9.9%, compared to a prior guidance range of 10.5% - 11.0%. Analysts expect the company to report fiscal 2014 earnings per share of $1.53.

The company expects its fourth-quarter earnings per share in the range of $0.31-$0.33. Sales growth is expected in the range of 8.5%-9.5%. Analysts expect the company to report fourth-quarter earnings per share of $0.34.