CANADA: Planet Organic Q3 revenue soars

By: just-food.com | 29 May 2007

Planet Organic, the Canada-based natural and organic foods retailer, has reported a 44% rise in third-quarter revenue.

The Edmonton-based company saw sales reach C$14.6m (US$13.5m). The group said its eight full-service organic food stores, operating under the Planet Organic Markets banner, generated revenues of $10.9m, up 49% on the year. Same store sales were up by 12%, Planet Organic added.

Meanwhile, the company's franchised vitamin store chain, Sangster's Health Centres, saw sales for the three months to the end of March rise by 5% to $4.4m, with like-for-like sales up 5%.

Turnover at Trophic Canada, Planet Organic's vitamin manufacturing unit, rose by 11% to $2.0m. However, sales at its POHC corporate health centres fell 3%.

"We are very pleased with the results from all divisions," said Planet Organic CFO Darren Krissie. "Same store sales growth at key locations is above expectations."

Planet Organic will be releasing its full third-quarter financial results on 30 May.

Companies: Planet Organic