AUSTIN, Texas — Whole Foods Market here said yesterday that despite posting negative comparable-store sales in the recently ended fiscal fourth quarter, trends are improving.
"We believe our sales have stabilized and officially turned the corner," said John Mackey, chairman and chief executive officer, in a prepared statement.
In the first several weeks of the first fiscal quarter, comparable-store sales have turned positive, he said, with gains of 1.6%, while same-store sales grew 0.4%. Those figures compare with a decrease in comps of 0.9% in the fourth quarter, which ended Sept. 27, and a 2.3% decline in same-store sales.
Net income for the 12-week fourth quarter totaled $36.4 million, compared with $1.5 million in the year-ago period, while sales grew 2.3%, to $1.8 billion.
For the full year, net income rose 2.8%, to $146.8 million, on a 1% sales gain, to $8 billion. Comps fell 3.1% for the year and same-store sales were down 4.3%.
Read More of Today's Headlines
