AUSTIN, Texas — Whole Foods Market here said Wednesday "strong execution" produced the company's strongest overall results in the past five years for the fiscal second quarter.
With long-term debt fully repaid, Whole Foods is considering other uses for its growing cash flow balance — which totalled $71.2 million for the quarter – including accelerating store growth, raising the dividend or repurchasing stock, John Mackey, co-chief executive officer, said.
Net income for the 12-week quarter, which ended April 12, rose 33.3% to $89.9 million, while sales climbed 12% to $2.4 billion. Comparable- and identical-store sales increased 7.8%, despite the negative impact of 50 basis points from the shift of Easter from last year's second quarter to this year's third quarter. ID sales for the first five weeks of the third quarter through May 1 were up 7.9%.
For the first half net income increased 45.7% to $178.7 million, while sales rose 13% to $5.4 billion, and comps and ID sales were up 8.5%, including a negative impact of 24 basis points from the Easter shift.
Whole Foods said it is raising its earnings per share estimate for the year by 10 cents, to a range of $1.87 to $1.90. It also said it is changing its stock trading symbol to WFM from WFMI, effective Friday.
