BOULDER, Colo. -- Wild Oats Market here said it expects revenue growth in 2001 to be relatively flat, with revenues from new or relocated stores offset by lost revenues from stores sold or closed in 2000, or planned for sale in early 2001.
ive of merger and restructuring charges, 2000 fourth-quarter net income was $876,000.
For the year, Wild Oats had a net loss of $15 million, in contrast with a net income of $12.5 million in the previous year.
The company attributed the losses to integration difficulties resulting from its rapid pace of acquisitions in 1999, when Wild Oats acquired or merged with 41 stores, as well as to delays in its store remodeling program and increases in utility costs during the fourth quarter.
In the fourth quarter, Wild Oats opened two stores, one in Bend, Ore., and the other in Yorba Linda, Calif. The company currently has nine sites in development and expects to open 10 new or relocated stores in 2001, including next month's opening of a new concept supermarket in Irvine, Calif., in which 20% of the store's 26,000 square feet will feature made-to-order food.
The company said its sales for the 13-week fourth quarter ended Dec. 30 were up 2.6% to $206.9 million, while sales for the year rose 16.2% to $838.1 million. The company said the sales increases were primarily the result of its 14 store openings and relocations as well as the acquisition of two stores in 2000. The increases also reflected the inclusion for the first time of full-year results from eight stores the company opened and 17 stores it acquired in 1999.