AUSTIN, Texas -- Whole Foods Market here said the company's first international effort, a 40,000-foot-store that opened earlier this month in Toronto, is likely to be followed up by other units even farther from home.
During a conference call with industry analysts following the release of results for the 12-week quarter, John Mackey, Whole Foods' chairman, president and chief executive officer, said, "Given the right circumstances and the right opportunities, we think our concept will travel beyond the United States."
As for the Toronto store, he noted, "It's too early to say how Toronto's going to do. It had a lot of publicity, so the store started very well. We'll have to see what happens in the nitty-gritty over the next few months."
Whole Foods said sales for the 12-week quarter grew 20.5% to $622.8 million, aided by a 17% increase in square footage chainwide and a comparable-store sales rise of 10.1%.
For the quarter, income from continuing operations increased 36% to $20.2 million, and diluted earnings per share from continuing operations were 34 cents, compared with 27 cents in the second quarter of last year.
For the first half, sales increased 20.7% to $1.4 billion, comparable-store sales rose 9.8%, income from continuing operations were up 35% to $40.4 million, and earnings per share from continuing operations were 68 cents per share, compared with 54 cents per share in the previous first half.
In both first-half and second-quarter 2001, the company reported $12.3 million in income from discontinued operations. When compared with the net income from these periods, this year's first half and second quarter net income declined 4.5% and 25.7%, respectively.