November 11,
2004, as reported by just-food.com: Whole Foods
Markets, the supermarket chain known for bringing natural
and organic products to the relative mainstream is getting
renewed reinforcement that it has indeed found a missing
niche in the grocery market.
Company reports show fourth quarter new income is up
27% for the Austin, Texas-based retailer, thanks to
strong sales.
The company reported net income of US$30.2m, or 46
cents per share, for the fourth quarter to September
26, compared to $23.8m, or 38 cents per share, for the
year-ago period. Sales increased 24% to $927.3m from
$750.7m a year earlier.
For the fiscal year, sales increased 23% to $3.9bn,
net income increased 32% to $137.1m, and earnings per
share increased 26% to $2.09.
"Our fourth quarter results cap off an outstanding
year," said John Mackey, chairman, chief executive
officer and co-founder of Whole Foods Market, adding
that the 23% rise in full-year sales came in a year
“that has proven to be very challenging for most
food retailers”.
The company, which has a stated long-term growth goal
of $10bn in sales by the year 2010, said it still expects
sales growth of 15% to 20% in fiscal 2005 and comparable
store sales growth of 8% to 10%. According to their
website Whole Foods is already the world's largest retailer
of natural and organic foods.
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