In the US, leading natural and organic food retailer Whole Foods Market has reported a drop in earnings per share during the fourth quarter (Q4) of the year to 1 per cent, or US$1.5m.

The results marked a considerable year-on-year fall from the same period of 2007, when net earnings stood at US$33.9m and US$0.24 per share.

Net sales during the quarter ended 28 September 2008 increased by 13.8 per cent to hit US$1.8bn, according to The Packer.

For fiscal year 2008, net earnings stood at US$114.5m and US0.82 per share, compared with US$182.7m and US$1.30 per share in 2007.

Identical store sales dropped 0.5 per cent during the quarter, the group said, compared with 6 per cent growth in the previous year, while year-on-year comparable store sales rose 0.4 per cent in the fourth quarter, down from 8.2 per cent.

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