Whole Foods Q3 net up 21%; 94 leases in pipeline
Austin, Texas -- Whole Foods Market reported that its net income in the third quarter increased 21% to $142 million, better than analysts had expected. The company also sounded a bullish note about expansion.
Walter Robb, co-CEO, Whole Foods, said the company continues to gain market share and still sees the potential for 1,000 stores in the United States alone. It currently operates 355 U.S. locations.
“Our outstanding operational performance is funding our growth, and our new stores are creating a cycle of innovation across the company Robb said. “We have signed 50 new leases over the last 12 months, increasing our development pipeline to 94 leases, and expect accelerating square footage growth for several years to come.”
For the quarter ended July 7, sales increased 12% to $3.1 billion. Same-store sales increased 7.5%. In the current fiscal fourth quarter, however, same-store sales are up 5.8%.