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Market Movers

Whole Foods says revenue growth will slow

Whole Foods has 345 stores in the US, UK, and Canada.
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Whole Foods has 345 stores in the US, UK, and Canada.

Whole Foods Market expects fiscal 2013 revenue to rise less than projected. The chain cut its comparable-store sales growth ranges for the year, from as much as 8.5 percent, to as much as 8 percent. It maintained its forecast for earnings of up to $2.87 per share. It cited tougher gross margin comparisons, its effort to expand value offerings, and an increase in relocation expenses. First-quarter net income was $146 million, or 78 cents per share, vs. $118 million, or 65 cents.

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