(Source: Associated Press/AP Online)
AUSTIN, Texas - Whole Foods Market says its business has officially turned the corner as profit and revenue for its stores grew in the fourth quarter.
After being hard hit by the recession's impact on shoppers, Whole Foods made several changes and began to see signs last quarter that its business might be recovering.
The natural and organic grocer reported Wednesday that it earned $28.7 million, or 20 cents per share, for the quarter. That includes a 1 cent per share benefit tied to how the company accounts for inventory.That's up from just $1.5 million, or 1 cent per share, for the same quarter last year.
Analysts expected earnings of 18 cents per share.
Total sales grew more than 2 percent to $1.8 billion.
A service of YellowBrix, Inc.
