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AUSTIN — Whole Foods Market Inc. has seen its profit plunge in the fourth quarter because of costs related to its acquisition of Wild Oats Markets Inc.
The company said Wednesday that its net income fell to $1.5 million, or 1 cent per share, compared with $33.9 million, or 24 cents per share, in the same quarter of last year.
The Austin, Texas-based natural grocer said the Wild Oats acquisition costs accounted for a hit of $25.4 million, or 9 cents per share, to net income for the quarter.
Sales increased to $1.79 billion from $1.74 billion for the quarter ended Sept. 28.
The company also announced a $425 million investment in Whole Foods through the sale of preferred stock to Green Equity Investors, an affiliate of Leonard Green & Partners.
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