Whole Foods Market Inc said on Tuesday store sales have rebounded as it expands efforts to lower prices and reach beyond its core of upscale shoppers by adding more locations, and its shares rose more than 8 percent after hours.
The news from the largest U.S. natural and organic grocery chain dispelled concerns that its store sales were slowing due to competition and sluggish U.S. economic growth.
Same-store sales, a key gauge of performance for retailers, rose 6.9 percent for Whole Foods' fiscal second quarter that ended April 14. So far this quarter, those sales are up 9.4 percent.
"The demand for fresh, healthy foods continues to grow," John Mackey, co-founder and co-chief executive officer of Whole Foods Market, said in a statement.
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