USA: Whole Foods Market reports 16% increase in Q1 sales
Austin, Texas-based Whole Foods Market, Inc. has reported sales and earnings for the Q1 ended 20 January 2002. Sales for the 16-week period increased 21% over the prior year. This increase was driven by 16% year-over- year square footage growth and better than expected comparable store sales growth of 9.4%. Sales in identical stores (excluding three relocated stores) increased 7.5% for the quarter. Net income for the quarter increased 34% to US$20.1m from US$15m in the prior year, and diluted earnings per share increased 26% to US$0.34, compared to US$0.27 in the prior year.
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