WHOLE FOODS’ MAKES A COMBACK IN THIRD QUARTER

Amid a court hearing with the FTC, Whole Foods said its comparable-store sales have slowed as supermarkets such as Safeway start offering better prepared foods and organic products. Comparable-store sales rose 7% in the third quarter ending July 1, down from 9.9% this time last year but up from the 6% growth in the second quarter. So far, fourth-quarter comparable sales are up 7.6%.

Whole Foods chief John Mackey said fourth-quarter comparable sales growth, along with third-quarter results, show that the company's "comparable store sales growth has stabilized."

Whole Foods has opened 18 new stores in the past 12 months, including a major store in London. The company says it plans to open 18 to 20 new stores during its current fiscal year, with a projected comparable sales growth of 6-8%.

With regards to the current court case, Whole Foods says it expects a ruling by the middle of August. If the deal isn’t approved by the August 31 deadline, Whole Foods may be forced to walk away. We’ll keep you posted.