Whole Foods doubles net income, raises outlook
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AUSTIN, Texas -- Grocer Whole Foods Market Inc. more than doubled its fourth-quarter net income and raised its full-year outlook as sales rose nearly 15 percent.
The Austin-based company said Wednesday that it earned $57.5 million, or 33 cents per share, for the quarter. That's up from $28.7 million, or 20 cents per share, a year earlier.
Revenue rose to $2.1 billion.
The results beat analyst expectations for earnings of 28 cents per share on revenue of $2.07 billion.
Whole Foods had expected its sales to moderate this quarter but said results surpassed their expectations.
The company now expects to earn $1.66 to $1.71 per share for the year, up from $1.59 to $1.64 per share.
Shares surged 9 percent in aftermarket trading.
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