AUSTIN, Texas — Whole Foods Market here on Tuesday said comparable-store sales were up 8.8% in the fiscal third quarter, helping drive a 53.5% increase in net income.
"We are pleased with our results, which compare very favorably to most other food retailers and show we are continuing to gain market share," said John Mackey, co-chief executive officer, in a prepared statement.
The company said identical-store sales, which exclude three relocated stores, were up 8.4% in the 12-week period, which ended July 5. Net income was $65.7 million, and total sales rose 15%, to $2.2 billion.
Through the first three quarters, net income was up 71%, to $188.3 million, on an 11% gain in sales, to $6.9 billion. Comps in the 40-week span rose 6.7%, and IDs, excluding five relocations and two expansions, were up 5.9%.
Whole Foods said comps in the current fourth quarter to date were up 7.7%, and it projected comp-store growth of 6.6% to 6.8% for the full fiscal year and comp-store growth of 5% to 7% for fiscal 2011.
