SAN ANTONIO (AP) – Natural foods grocer Whole Foods Market Inc. says its profit fell 27 percent in the most recent quarter as the cost of its acquisition of Wild Oats dragged on earnings.
The Austin, Texas-based chain reported Tuesday that it earned $39.1 million, or 28 cents per share, in the quarter that ended Jan. 20. That compares with $53.8 million, or 38 cents per share in the same period last year.
The company has routinely posted double-digit profit gains for years. But in recent quarters, earnings has been weighed down by the cost of opening new stores and an expensive legal fight to acquire rival Wild Oats Markets.
Whole Foods says sales at stores open at least a year were up about 7 percent for the quarter.
