Sales Surge at Whole Foods

Whole Foods (WFMI Quote) reported a 15% drop in fourth-quarter profits, hit by charges, but the natural-foods giant recorded hefty sales gains following its purchase of rival Wild Oats.

The Austin, Texas-based company's earnings for the September quarter fell to $33.9 million, or 24 cents a share, from $39.8 million, or 28 cents a share, a year earlier.

The results were weighed down by charges of $13 million, or 6 cents a share, in costs tied to the August acquisition of Wild Oats. As well, the company recorded $23 million, or 10 cents a share, in pre-opening and relocation costs, up from $14 million, or 16 cents a share, a year earlier. ...