Whole Foods Market profit and sales grow in fourth quarter; weak outlook sends shares down

PORTLAND, Ore. (AP) - Whole Foods Market Inc. said Wednesday that its business has officially turned the corner as sales and profit grew in the fourth quarter, but a weak outlook for next year sent shares tumbling after-hours.

The organic grocer was hard hit by the recession as consumers cut back on their spending and focused on more value-oriented stores. The company made several strategic changes - which included adding more store brand products and promoting other lower-priced options.

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