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Whole Foods Q2 income up 33%, gets new stock symbol
Austin, Texas -- Whole Foods Market's second-quarter net income rose 33% on strong sales, beating analyst expectations. The company raised its full-year earnings outlook.
Whole Foods said the overall results for the quarter were its strongest in five years. It has fully repaid its long-term debt and is considering using its growing cash balance to grow faster, raise its dividend and repurchase stock.
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Easter boosts sales in April, but caution is noted
New York City -- Retailers reported strong April sales that were boosted by the late Easter holiday, which fell on April 24, three weeks later than last year. Same-store sales rose 8.9% at the 25 retailers tracked by Thomson Reuters, compared with expectations for an 8.2% increase. But the good news was tempered as retailers acknowledged that shoppers are under increasing pressure from rising gas prices and other cost increases.
