AUSTIN, Texas â€” Whole Foods Market here said net income and sales rose for the third quarter, which ended July 5, while net income fell on higher sales for the year to date. Comparable-store store sales declined for both periods.
Net income for the 12-week quarter rose 26.2% to $42.8 million, while sales rose 2% to $1.9 billion and comps fell 2.5%; for the 40-week period net income fell 2.3% to $110.4 million, while sales rose 1% to $6.2 billion and comps dropped 3.8%.
John Mackey, chairman and chief executive officer, said the company was pleased with the first sequential improvement in comp trends in six quarters (comps were down 2.6% in last year's third quarter and 6.4% in the prior year-to-date). He said the improvements were driven by stronger trends in average transaction count and basket size.
â€śWe believe we are continuing to strike the right balance between sales and gross margin while exhibiting strong cost control,â€ť he said.
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