Whole Foods Markets, the natural and organic retailer with operations in the US, Canada and the UK, has revealed a strong set of results for the first quarter of the year.
For the 16-week period ended 15 January 2012, the group saw net income jump 33 per cent year-on-year to US$118.3m, with earnings before interest, taxation, depreciation and amortisation up 21 per cent to US$283m.
Sales for the quarter increased by 13 per cent to US$3.4bn, the group said, with comparable store sales increasing 8.7 per cent on the same period last year.
'We continue to execute at a high level, delivering a great shopping experience for our customers while delivering great returns to our shareholders,' said Walter Robb, co-chief executive officer of Whole Foods Market. 'This quarter we produced a 28 per cent increase in earnings on a 13 per cent increase in sales.
'We are pleased with our sales momentum and are confident we will continue to leverage our sales to the bottom line as reflected in our increased operating margin and earnings outlook for the year,' he added.
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