Whole Foods Earnings Beat Estimates

By Tonya Garcia Markets MarketWatch Pulse

Whole Foods Market Inc. reported third-quarter net income of $106 million, or 33 cents per share, down from $119 million, or 37 cents per share, for the same period last year. Adjusted EPS was 36 cents, ahead of the 33-cent FactSet consensus. Revenue for the quarter was $3.73 billion, up from $3.70 billion last year and in line with the FactSet consensus. Same-store sales fell 1.9%, compared with a FactSet consensus for a 2.2% decline. Whole Foods did not update its outlook due to the acquisition bid from Amazon.com Inc. , and won't be holding an earnings conference call, the company said. The companies expect the deal to close in the second half of 2017. Earnings had been expected after the closing bell. Whole Foods shares are up 0.2% in Wednesday trading and up 36% for the year to date, outpacing the S&P 500 index , which is up 10.7% for 2017 so far.

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