Whole Foods profit tops expectations

Whole Foods on Wednesday reported a quarterly profit that topped Wall Street expectations and shares of the organic and natural grocery chain rose in extended trading.

As traditional supermarkets and big-box retailers muscle into the organic category, Whole Foods’ sales growth has slowed and it has been fighting to more sharply define what sets it apart.

That has meant trying to stay ahead of trends, such as giving customers more information about where its products come from. Last month, for instance, it introduced a ranking system that labels produce as “good,” “better” or “best” based on the supplier’s farming practices.

Whole Foods Market earned $128 million, or 35 cents per share, for the most recent quarter. That tops the 32 cents per share analysts expected, according to FactSet. A year ago, it earned $121 million, or 32 cents per share.