Whole Foods Profit Rises, Cuts Outlook; Stock Down

(RTTNews) - Whole Foods Market Inc. (WFM) Wednesday reported fourth-quarter net income of $121 million or $0.32 per share, compared with $113 million or $0.30 per share last year.

Revenue for the quarter rose to $2.98 billion from $2.91 billion a year ago.

Analysts polled by Thomson Reuters estimated earnings of $0.31 per share on revenue of $3.04 billion.

On a same store basis, sales for the quarter were up 5.9 percent.

For fiscal year 2014, the company now expects earnings of $1.65 to $1.69 per share, down from prior guidance of $1.69 to $1.72 per share. Analysts expect earnings of $1.73 per share.

The company expects same store sales in 2014 in the range of 5.5 percent to 7 percent, from prior range of 6.5 percent to 8 percent.