Whole Foods Profit Down 17%

Austin, Texas Whole Foods Market on Wednesday reported that net income for its first quarter ended Jan. 18 fell 17% due to legal costs and slower store traffic. The company posted a fiscal first-quarter profit of $32.3 million, down from $39.1 million last year but better than Wall Street expected.

Sales for the first quarter were $2.5 billion, in line with the prior year. Same-store sales decreased 4.0%.

Whole Foods Market has opened five stores year to date. Three stores, including one relocation, are expected to open in the second quarter, and seven stores, including four relocations, are expected to open in the second half of the fiscal year.