Whole Foods is crashing

Shares of Whole Foods fell by up to 10% in after hours trading Wednesday after the company reported second-quarter earnings.

The company reported sales of $US3.6 billion, a 10% increase, but below investors’ expectations for $US2.7 billion, according to Bloomberg.

The company posted diluted earnings per share of $US0.44, higher than the expectation for $US0.42.

“Our results reflect another quarter of record sales and healthy returns on invested capital,” said John Mackey, co-founder and co-chief executive officer of Whole Foods Market.

“Our Whole Foods Market brand has helped lead the shift in consciousness toward fresh, healthy foods by offering the highest quality, broadest selection, and best customer service, and we believe we can triple the number of Whole Foods Market stores in the United States,” he said.

Comparable store sales on a constant currency basis rose 3.6%.

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