US: Whole Foods "very pleased" with Q3 showing
By: just-food.com | 5 August 2009
- Comp sales down 2.5%; ID sales down 3.8%
- Whole Foods boss hails "improvement"
- Net income up 3%
The chief of US organic food retailer Whole Foods Market last night (4 August) insisted he was "very pleased" with the company's third-quarter results despite comparable-store sales again falling.
Whole Foods, which has suffered as demand for organic food has slowed during the downturn, posted a 2.5% fall in comparable-store sales for the three months to 5 July. Identical-store sales were down 3.8%.
However, John Mackey, Whole Foods' chairman, CEO and co-founder, said the retailer had seen its "first sequential improvement in comparable-store and identical-store sales trends in six quarters".
Group turnover was up 2% to US$1.9bn. Net income rose from $33.9m a year earlier to $34.9m.
Click here for the full third-quarter release from Whole Foods. Check back for further comment from Mackey on the company's performance and outlook.
Sectors: Natural & organic, Retail
Companies: Whole Foods Market
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