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Whole Foods Results, Outlook Top Forecasts

Whole Foods posted quarterly results that exceeded analysts' expectations and raised its outlook for the full year on Wedesday, sending shares higher in late trading.

The organic food retailer said it earned 38 cents a share in its fiscal second quarter, excluding one-time items, compared with 19 cents a share this time last year.

Sales for the most recent quarter reached $2.11 billion, up from $1.86 billion in the same period last year.

Analysts who follow the company projected Whole Foods to earn 33 cents a share on revenue of $2.05 billion, according to a consensus from Thomson Reuters.

A Whole Foods Market in Dallas.
Donna Mcwilliam
A Whole Foods Market in Dallas.

Whole Foods boosted its full year revenue guidance to between $1.33 a share and $1.37 a share. Analysts' earlier per-share consensus stood at $1.24.

It also raised its same-stores sales growth target to 6 percent to 7 percent from 3.5 percent to 5.5 percent.

Same-store sales measure sales at stores open at least a year, while identical-store sales exclude stores that have moved or been renovated.

Shares of Whole Foods rose in extended trading Wednesday.

The comapny's stock finished at $40.25 in the regular New York Stock Exchange.

—Reuters contributed to this report.