Deutsche Bank Reports Positive Sales On Whole Foods

According to Deutsche Bank, Whole Foods Market WFMI reported another strong beat & raise quarter, as they continue to execute on delivering improved value and a differentiated offering. Deutsche Bank said that the beat was driven by strong leverage of occupancy costs and direct store expense. “FY11 guidance was raised by ~$0.10. Cash flow generation was strong, and all longterm debt has now been repaid, providing flexibility to ramp-up new stores or return more cash to shareholders. Current valuation reflects improving sales and margin trends, and anticipated pick-up in sq ft growth. Hold.” Whole Foods Market closed yesterday at $59.74.