AUSTIN, Texas — Whole Foods Market late Wednesday said earnings during the fiscal second quarter soared by 31% on a 9.5% increase in comparable store sales. Quarterly comps included a positive impact of 55 basis points from Easter shifting from the third quarter last year to the second quarter this year.
Overall sales climbed by 14% to $2.7 billion as Whole Foods posted earnings of $117.7 million, or 64 cents per share. Analysts expected earnings of 59 cents.
“We are pleased to report another outstanding quarter, producing the best results in our company's 32-year history," John Mackey, co-founder and co-chief executive officer of Whole Foods Market, said in a statement. "Our consistent execution and strong capital disciplines have been delivering record returns to our shareholders.”
Highlights of the quarter, which ended March 29, included gross profits growing by 70 basis points to 36.6% of sales as well as expense improvements. The company subsequently improved its outlook for the fiscal year and is now expecting sales growth in the range of 14.8% to 15.6%, up from 13.5%-15%.