Whole Foods Comp Sales Down in Q1

Comparable-store sales declined 4% at Whole Foods Market in the first quarter marking the first negative comps number in the company's 29-year history but efforts to cut costs resulted in better-than-expected profits for the beleaguered natural and organic specialist. Despite the comp-store sales decline, shares of Whole Foods, which had been badly beaten down in the past two years,

AUSTIN, Texas — Comparable-store sales declined 4% at Whole Foods Market here in the first quarter — marking the first negative comps number in the company's 29-year history — but efforts to cut costs resulted in better-than-expected profits for the beleaguered natural and organic specialist.

Despite the comp-store sales decline, shares of Whole Foods, which had been badly beaten down in the past two years, jumped nearly 40% on the day following the earnings report as analysts

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