WHOLE FOODS SHARES EXPLODE HIGHER AFTER EARNINGS

whole foods tbi

Update:

Whole Foods narrowly beat analyst expectations, with EPS coming in at $0.63 versus the $0.61 expected. 

The stock is up 8 per cent in after hours trading at $91.70.   

Sales grew 14 per cent to $2.7 billion, and their EPS guidance for FY 2012 was raised five cents.

Original post:

Organic and natural foods supermarket giant Whole Foods (WFM) will announce Q2 earnings after the bell today. Analysts expect EPS to come in at $0.61 cents a share. Revenue is expected at $2.733 billion. 

Shares are up very slightly at $84.33 before the announcement.

Click here for updates > 

The chain is seen as something of a luxury, and its earnings should provide a window into whether consumers are confident enough to spend extra money on their groceries.

We’ll be updating the post as the numbers come in.  

NOW WATCH: Money & Markets videos

Want to read a more in-depth view on the trends influencing Australian business and the global economy? BI / Research is designed to help executives and industry leaders understand the major challenges and opportunities for industry, technology, strategy and the economy in the future. Sign up for free at research.businessinsider.com.au.