Whole Foods Market increased its full-year forecast after the upmarket US grocer reported its “strongest overall results” in the past five years.
The natural and organic retailer yesterday (4 May) said that it now expects its full-year diluted EPS to reach US$1.87-1.90 against a previous forecast of $1.76-1.80.
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The new forecast came as the retailer recorded a 33.3% increase in net income over the second quarter, ended 10 April, to reach $89.9m. Sales for the quarter were up 12% to reach $2.4bn, while comparable-store sales were up 7.8%.
For the first half, net profit was up 52.3% to $178.6m, while sales were increased 13% to $5.4bn. Comparable-store sales were up 8.5%.
“These are the strongest overall results we have reported in the past five years. Our solid execution is generating consistent cash flow, and with our long-term debt now fully repaid, we are considering other uses for our growing cash balance, including accelerating our growth, raising our dividend and repurchasing stock,” said co-founder and co-CEO John Mackey.
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