Austin, Texas Whole Foods Market Inc. said Tuesday that sales surged in the second quarter but absorbing the Wild Oats chain it bought last year caused profit to sag by 13%.
The company said net income in the quarter ended April 13 fell to $40 million, from $46 million a year earlier. The grocer said last year's acquisition of Wild Oats Markets Inc. cost $8.6 million in the quarter.
Revenue rose 28% to $1.87 billion, but fell short of analysts' forecast of $1.89 billion.
Whole Foods repeated its forecast that sales will increase 25% to 30% in the current fiscal year, which ends in September, and same-store sales will rise 7.5% to 9.5%.
Through the first six months of its fiscal year, the company earned $79.1 million, compared with $99.74 million a year earlier. Sales gained 29.7% to $4.32 billion, and same-store sales increased 8.2%.
Whole Foods operates about 270 stores and has 89 locations in development.