BUSINESS BRIEFING / EARNINGS
Whole Foods Market Inc. posted higher profit as sales “stabilized and officially turned the corner,” but shares fell nearly 9% after its fiscal 2010 profit outlook missed analysts’ views.
Fourth-quarter net income was $28.7 million, or 20 cents a share, compared with $1.5 million, or 1 cent, a year earlier. Sales rose 2.3% to $1.83 billion.
Fiscal 2010 earnings are expected to be $1.05 to $1.10 a share, below analysts’ call for per-share profit of $1.11.
Whole Foods shares fell $2.48 to $29.58 after closing at $32.06 in regular trading.
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