Whole Foods' Results Improve Slightly As Its Merger With Amazon Looms
Whole Foods Market (NASDAQ: WFM) issued what may be its final earnings report as an independent publicly traded corporation on Wednesday. In the run-up to its $13.7 billion merger with Amazon.com (NASDAQ: AMZN), slated to close during the second half of this year, the natural and organic foods grocer reported a fiscal third-quarter 2017 top-line increase of 0.6%, to $3.7 billion.
Comparable same-store sales, or "comps," are still stuck in a multiquarter descent, but in the last three months, comps showed modest improvement, declining 1.9% versus a trend of negative 2.6% in the first six months of the fiscal year.
Whole Foods' new 40,000 square-foot store located in Central Harlem, New York City. Image source: Whole Foods Market.
Source: Fool.com
