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Cost-cutting, solid sales, and positive free cash flow contributed to a successful fiscal first quarter for Whole Foods Market. The retailer’s stock jumped 34.5 percent on news that it beat Wall Street estimates.
Sales for the quarter ended Jan. 18, were $2.5 billion, a 1 percent increase over 2008, excluding $15.6 million of sales from 13 subsequently closed Wild Oats stores. Comparable store sales, however, decreased 4 percent versus a 9.3 percent increase in the prior year.
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