Whole Foods Remains Cautiously Optimistic

Whole Foods Market, a pricey food chain that stands quite opposite to Wal-Mart and the like, recently stated that conditions for the organic and natural supermarket are looking better. This revelation sent many investors to purchase Whole Foods stock, launching it up 16 percent to $28.70.

Identical-store sales fell 3.8 percent from last year, which is much better than the 5.8 percent that Whole Foods posted last quarter, while Whole Foods actually managed to post an increase in same-store sales from the last quarter. Whole Foods has also managed to beat analyst expectations, bringing in a profit of 28 cents per share compared to the predicted 20 cents per share.

Several analysts have taken Whole Foods’ optimism as a tentative sign of economic recovery, considering that many supermarket chains around the country continue to suffer. Still, Whole Foods executives and analysts agree that it is still too early to call whether or not Whole Foods’ strong performance is a sign of momentum and stability or just a flash in the pan.

Whole Foods Market (Image: Flickr)