Market Share Gains Drive Whole Foods Profit

Upscale grocer Whole Foods Market Inc (NASDAQ:WFM), which specializes in organic and natural food products, reported a 5.7 percent rise in quarterly profit as the company gained market share and launched new products.

The company's net income rose to $128 million, or 35 cents per share, in the fourth quarter ended Sept. 28, from $121 million, or 32 cents per share, a year earlier.

Revenue rose 9 percent to $3.25 billion.

(Reporting by Lisa Baertlein in Los Angeles and Ramkumar Iyer in Bangalore; Editing by Saumyadeb Chakrabarty)