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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 Market Inc, which has agreed to be bought by 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 ...

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