Whole Foods profit down as same-store sales declines persists

Whole Foods Market Inc , which has agreed to be bought by Amazon.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.

More from FOX Business

Whole Foods sales struggle shows Amazon buying a fixer-upper

Amazon, Whole Foods Look to Head Off Lengthy Deal Review

Critics sound anti-trust alarm over Amazon-Whole Foods deal

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

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

(Reporting by Lisa Baertlein in Los Angeles; Editing by Jonathan Oatis)