Feb 12 Whole Foods Market Inc on
Wednesday lowered its 2014 sales forecast after first quarter
sales missed Wall Street expectations, and the grocery chain's
shares fell 2.9 percent in after-hours trading.
Same-store sales, a key gauge of performance for retailers,
rose 5.4 percent for the fiscal first quarter ended January 19.
Austin, Texas-based Whole Foods, the largest U.S. natural
and organic grocery chain, now expects 2014 same-store sales
growth of between 5.5 percent to 6.2 percent, from a previous
forecast range of 5.5 percent to 7 percent.
Net income rose to $158 million, or 42 cents per share, from
$146 million, or 39 cents last year. Overall sales rose 9.9
percent to $4.24 billion.
(Reporting by Phil Wahba in New York and Lisa Baertlein in Los
Angeles; Editing by Nick Zieminski)