Wholesome results
AP
Shoppers are buying groceries at Whole Foods again, but they still aren’t paying full price.
The natural and organic grocer said earlier this week that its sales and profit increased in the fiscal fourth quarter, after lower prices brought consumers back into its stores. Shoppers had been favoring more value-oriented chains during the recession.
In the most recent period, the company earned $28.7 million, or 20 cents per share, compared to $1.5 million, or 1 cent, in the same quarter last year. Sales at stores open at least a year also grew 1.6 percent, after five quarters of declines.
Whole Foods has made several changes to win over consumers. It added more store brand products and beefed up promotions on other low-priced options.
Still, the company faces challenges ahead. Economic uncertainties remain, and the company must maintain an intense focus on pricing. It expects to earn $1.05 to $1.10 per share next year, below analyst expectations of $1.11.
Associated Press
