PORTLAND, Ore. – Whole Foods Market Inc. says shoppers bought more organic foods and name-brand products to help boost its second-quarter net income 33 percent.
The results prompted the company, based in Austin, Texas, to raise its full-year outlook Wednesday. The company owns Greenlife Grocery in Chattanooga.
Whole Foods earned $89.9 million, or 51 cents per share, for the quarter that ended April 10. That’s up from $67.5 million, or 39 cents per share, a year earlier.
Revenue rose 12 percent to $2.35 billion, even with the Easter holiday falling in the following quarter.
The results beat analysts’ expectations for earnings of 46 cents per share but fell just short of the $2.37 billion in revenue analysts anticipated, according to FactSet.
Whole Foods leaders say the company is back to near-peak performance after years of reshaping itself.
The grocer was hard hit during the recession. In response, it slowed its growth, cut its costs and offered more items at lower prices. It since has delivered consistent and industry-leading gains in sales and profitability.
Whole Foods still faces challenges, such as rising food prices, that threaten the entire industry.