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Whole Foods earnings beat, revenue in line

Whole Foods Market reported quarterly earnings Wednesday that beat analysts' expectations and revenue that was in line with forecasts.

After the earnings announcement, the company's shares rose in extended-hours trading. (Click here to track Whole Foods shares.)

Fiscal fourth-quarter net income rose to $128 million from $121 million in the year-ago period.

The grocery chain posted earnings of 35 cents per share, up from 32 cents a share.

Revenue increased to $3.26 billion from $2.98 billion.

Analysts were expecting Whole Foods to report earnings of 32 cents per share and revenue of $3.26 billion, according to a consensus estimate from Thomson Reuters.

During the quarter, comparable-store sales rose 3.1 percent. This growth has accelerated to a rise of 4.6 percent in the current quarter through Sunday.

The company expects comparable-store sales growth in the low to middle single digits for fiscal 2015.

A customer checks out of a Whole Foods Market in Washington, D.C.
Andrew Councill | Bloomberg | Getty Images
A customer checks out of a Whole Foods Market in Washington, D.C.

Year to date, Whole Foods stock has dropped 30 percent as investors have expressed concerns that the chain's comparable-store sales growth is slowing amid increased organic grocery competition. The company's same-store sales were forecast to rise 3.10 percent, according to a Consensus Metrix estimate.

Correction: Whole Foods reported earnings on Wed., Nov. 5. The day of the week was misstated in an earlier version of this article.