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Strategies & Market Trends : Can you beat 50% per month?

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To: Smiling Bob who wrote (11564)2/19/2008 5:25:35 PM
From: Smiling Bob  Read Replies (1) of 19256
 
Wild Oats Brings Whole Foods Profit Down
Tuesday February 19, 4:34 pm ET
Whole Foods 1Q Profit Falls 27 Percent to $39.1 Million, Brought Down by Wild Oats Acquisition

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 qu
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