Whole Foods Market Inc. reported 3Q09 earnings of $0.25, beating 3Q08 earnings of $0.24 by 4% and surprising analysts’ estimate of $0.20 by 25%. Revenue increased 2% to $1.88 billion even as store sales decreased overall. It is especially remarkable, considering current economic situation, and compared to last quarter’s negative sales growth. Their Ccst conscious approach to expenses paid off, increasing their overall gross profit 33 basis points (excluding LIFO adjustment). WFMI increased fiscal year 2009 diluted EPS to $0.80-$0.82 from previous guidance of $0.65-$0.70.
WFMI closed at $24.82 pre-earnings, and earnings release after market boosted the company 13.5% in after market trading.
Tuesday, August 4, 2009
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