US: Whole Foods Market ups profit forecast
US grocer Whole Foods Market has booked an increase in first-quarter profits and raised its full-year earnings outlook.
Net profit in the three months to the end of December climbed 33% to US$118.3m, while EBITDA rose 21% from the prior-year period to $283m.
Sales in the quarter increased 13% to $3.4bn, while comparable store sales rose 8.7%, and identical store sales, excluding six relocations and two expansions, increased 8.2%.
"We are pleased with our sales momentum and are confident we will continue to leverage our sales to the bottom line as reflected in our increased operating margin and earnings outlook for the year," Whole Foods Market co-CEO Walter Robb said yesterday (8 February).
Based on results from the first quarter, Whole Foods raised its full-year profit forecast to a range of $2.28 to $2.32 per share, from $2.21 to $2.26 per share.
Whole Foods' share price was up 2.64% to $79.99 at 10.06am ET.
UK crisp manufacturer Tyrrells has insisted it believes it can build its fledgling businesses in the emerging markets of India and China....
US retailer The Fresh Market has lifted its target for annual earnings after its profits jumped in the first quarter of its financial year....
- SIAL 2014: Greek yoghurt firm Fage targets Europe
- Why Nestle is relaxed about the China "drag"
- On the money: Spreads, ice cream top Unilever woes
- Focus: Will Danone return to growth in dairy?
- SIAL: French firm Michel et Augustin to enter US
- SIAL 2014: Premier in talks over US manufacturing
- Symington's acquires Tanfield Foods
- Kellogg, Nestle slammed for "chaotic" salt policy
- Heinz silent over Polish factory expansion talk
- Danone "eyes acquisition of Mead Johnson"