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    Whole Foods reports healthy 1Q

    Associated Press – Wed, Feb 8, 2012

    AUSTIN, Texas (AP) — Whole Foods Market Inc. reported Wednesday that shoppers flocked to its natural and organic grocery stores during its fiscal first quarter, pushing up its revenue and net income and topping analysts' expectations.

    The grocer's shares were mixed in after-hours trading after the report. It also raised its full-year outlook.

    Whole Foods said it earned $118.3 million, or 65 cents per share, for the quarter that ended Jan. 15. That's up 33 percent from $88.7 million, or 51 cents per share, a year earlier. Revenue rose nearly 13 percent to $3.39 billion for the period.

    Analysts polled by FactSet anticipated the company would earn 60 cents per share on revenue of $3.38 billion.

    "We continue to execute at a high level, delivering a great shopping experience for our customers while delivering great returns to our shareholders," Whole Foods co-CEO Walter Robb said in a statement.

    The company has been an industry standout for several years. After being hit hard by the recession, it cut back spending, lowered its debt, introduced lower-priced options and returned much of its focus to its core healthy foods business. Its business quickly turned around and as consumers began to relax their purse strings more recently, the gains have continued.

    Whole Foods said revenue from its stores open at least a year rose 8.7 percent during the quarter. This is considered a key financial indicator as it looks at the performance at established stores and strips away the impact of recently opened or closed stores.

    Based on the results, the company nudged up its full-year forecast. It now expects to earn $2.28 to $2.32 per share for the year, compared with its prior forecast of $2.21 to $2.26 per share. Analysts forecast $2.27 per share. The company expects its revenue to rise 13.5 to 15 percent, up from prior forecasts for a gain of 13 percent to 15 percent.

    Whole Foods, which operates 317 stores in the U.S., Canada and United Kingdom, is based in Austin, Texas.

    The company's shares fell 43 cents to $77.50 after hours following the report, having closed up $2.13, or 2.8 percent, at $77.93.

     

    1 comment

    • james j
      james j  •  Austin, Texas  •  2 mths ago
      Whole supporters of Dubya and Perry. How greedy can you get?
     Post a comment
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