Whole Foods Market, Inc. (NASDAQ: WFM) reported fiscal first-quarter financial results after markets closed on Wednesday. The company posted $0.39 in earnings per share (EPS) and $4.92 billion in revenue, versus consensus estimates from Thomson Reuters that called for $0.39 in EPS and $4.98 billion in revenue. The same period from last year had $0.46 in EPS and $4.83 billion in revenue.
Comparable sales for the quarter were down 2.4% for the quarter, with transactions dropping by 3.9%. The company also mentioned that comparable sales in the fiscal second quarter were down 3.2% so far in Q2, with transactions down 1.9%.
Looking at the guidance for the 2017 fiscal year, Whole Foods expects to see $1.33 or greater in EPS, sales growth of 1.5% or greater, and comparable sales of “approximately -2.5% or better.” The consensus estimates for the fiscal year are calling for $1.44 in EPS and $16.26 billion in revenue.
During the quarter, the company generated $284 million in cash flow from operations, invested $245 million in capital expenditures, and returned $43 million in quarterly dividends to shareholders.
On the books, cash, cash equivalents, and short-term investments totaled $724 million at the end of the quarter, versus $730 million in the same period from last year.
John Mackey, co-founder and CEO of Whole Foods, commented:
In this increasingly competitive marketplace, we are committed to taking every step necessary to improve comps and deliver higher returns for our shareholders. To this end, we are refining our growth strategy, refocusing our efforts on best serving our core customers, and moving faster to fully implement category management. Evolving our purchasing operating model while developing data-rich, customer-centric category management capabilities is critical to our go-forward merchandising, pricing, marketing and affinity strategies.
Shares of Whole Foods closed Wednesday up 1.1% at $29.30, with a consensus analyst price target of $29.95 and a 52-week trading range of $27.67 to $35.58. Following the release of the earnings report, the stock was initially down 4.4% at $28.00 in the after-hours trading session.
The #1 Thing to Do Before You Claim Social Security (Sponsor)
Choosing the right (or wrong) time to claim Social Security can dramatically change your retirement. So, before making one of the biggest decisions of your financial life, it’s a smart idea to get an extra set of eyes on your complete financial situation.
A financial advisor can help you decide the right Social Security option for you and your family. Finding a qualified financial advisor doesn’t have to be hard. SmartAsset’s free tool matches you with up to three financial advisors who serve your area, and you can interview your advisor matches at no cost to decide which one is right for you.
Click here to match with up to 3 financial pros who would be excited to help you optimize your Social Security outcomes.
Have questions about retirement or personal finance? Email us at [email protected]!
By emailing your questions to 24/7 Wall St., you agree to have them published anonymously on a673b.bigscoots-temp.com.
By submitting your story, you understand and agree that we may use your story, or versions of it, in all media and platforms, including via third parties.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.
Latest from 24/7
