(By Salman - iStockAnalyst Writer)Whole Foods Market Inc. (NASDAQ: WFMI) is scheduled to report its fiscal fourth quarter earnings report earnings after the market close on Wednesday, November 4. Analysts on average expect the company to earn 18 cents per share on revenue of $1.84 billion. In the year ago period, the company reported earnings of 1 cents per share on revenue of $1.8 billion.

Whole Foods Market Inc. engages in the ownership and operation of natural and organic foods supermarkets primarily in the United States. As of September 30, 2008, the Company operated 275 stores organized into 11 geographic operating regions, 264 stores in 38 United States of America states and the District of Columbia; six stores in Canada, and five stores in the United Kingdom.

The Austin, Texas-based company appears to be immune from the shaky economy. The worst economic downturn in decades forced the cash strapped consumers tightened their spending and shifted to more value-oriented stores. However, Whole Foods company slashed costs, secured a major investor, increased its store brand offerings and promoted its other lower-priced options to beat recession and attract shoppers. Thanks to the growing trend for healthy food, most US families are not giving up their purchases of organic products despite lingering economic uncertainty. Nearly three-quarters (73 percent) of U.S. families buy organic products at least occasionally, chiefly for health reasons while 28 percent buy organic products weekly, according to the Organic Trade Association. The industry itself is growing at a rapid pace and organic food products are now firmly established in the American food culture. According to 2007 OTA Manufacturer Survey, U.S. sales of organic food and beverages have grown from $1 billion in 1990 to an estimated $20 billion in 2007. Organic food sales are anticipated to increase an average of 18 percent each year from 2007 to 2010.

Early in August, the company reported that its third quarter net income rose to  $34.97 million, or 25 cents a share, from $33.92 million, or 24 cents a share, a year ago. Sales at Whole Foods rose 2% to $1.9 billion. Analysts, on average, had expected earnings of 19 cents a share on sales of $1.87 billion.

Comparable store sales decreased 2.5% versus a 2.6% increase in the prior year. Identical store sales, excluding nine relocations and two major expansions, dropped by 3.8% compared to a 1.9% growth in the prior year. Excluding the negative impact of foreign currency translation, comparable store sales decreased 2.0%, and identical store sales declined 3.3%.

During the quarter, Whole Foods Market generated $159.6 million in cash flow from operations and invested $66.9 million in capital expenditures, of which $54.5 million related to new stores.

The company expects to report fourth quarter earnings in the range of 16 cents to 18 cents per share.

Whole Foods lifted its full year earnings guidance in August. For the full year 2009, the company now expects earnings in the range of $0.80 - $0.82 per share, up from its prior forecast of $0.65 - $0.70 per share.

The company opened four stores in the third quarter, three of which were relocations. Since the company's second quarter earnings release, it has terminated two leases, totaling about 121,100 square feet for stores previously scheduled to open in fiscal years 2012 and 2013. In total, company estimates 53 openings, 7 relocations and 8 new markets through 2013.

In terms of stock performance, Whole Foods shares have gained 222% since the beginning of the year. Shares of the company fell 37 cents or 1.15% to $31.91 in afternoon trade on Tuesday.

Disclosure: Author doesn't own any of the stocks mentioned here.