Whole Foods Market Q2 profit surges 20%; raises forecast
Austin, Texas -- Whole Foods Market on Tuesday reported that its second-quarter net income rose to $142 million from $118 million a year earlier, beating analysts estimates. The chain also raised its full-year forecast.
Total sales in the quarter ended April 14 increased to $3.03 billion, from $2.67 billion.
Same-store sales rose 6.9%.
"We delivered another quarter of strong sales and earnings growth, reporting record results on many levels,” said John Mackey, co-founder and co-chief executive officer of Whole Foods Market. “The demand for fresh, healthy foods continues to grow, and we are leading the way as America's healthiest grocery store with close to seven million customers visitingourstoreseachweek. Webelievewewillcontinuetogainmarketshareasweaccelerateournewstoreopenings, improve our relative value proposition while maintaining our high quality standards, and further differentiate our shopping experience.”
Whole Foods, which currently has 349 stores, said it recently signed 10 new leases averaging 35,700 sq.ft. in size. The stores currently are scheduled to open in fiscal year 2014 and beyond.