You are here: Home » International » News » Companies
Business Standard

Whole Foods profits dip as same-store sales fall for 8th straight quarter

Whole Foods said it expects to close its deal with Amazon during the second half of this year

Reuters  |  Los Angeles 

Whole Foods. Photo: Reuters
Whole Foods. Photo: Reuters

Market Inc, which has agreed to be bought by com Inc for $13.7 billion, on Wednesday reported a quarterly profit decline after same-store sales fell for the eighth quarter in a row.

Shares in the upscale grocer, which released the financial report more than two hours earlier than expected, were largely unchanged at $41.80 in midday trading.

Net income fell to $106 million, or 33 cents per share, from $120 million, or 37 cents per share, a year earlier.

The Austin, Texas-based upscale grocer reported a 1.9 percent drop in same-store sales for the third quarter that ended July 2.

said it expects to close its deal with during the second half of this year, and said it would not update its earnings forecasts and would not hold a conference call.

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

First Published: Thu, July 27 2017. 05:01 IST