Rochester, NY 8/11/2009 10:10:38 AM
After Hours - Whole Foods Market, Inc. WFMI - Whole Foods Announced 2009 Third Quarter Market Results
Whole Foods Market, Inc. WFMI
Whole Foods Market, Inc. declares the sales for the quarter increased 2% to $1.9 billion, so far the stock has hit a 12-week third quarter results ended July 5, 2009. The company’s store sales declined by 2.5% as compared to 2.6% % increase in the same period last year. Excluding nine relocations and two major expansions, identical store sales, decline 3.8% as compared 1.9% increase in the same period last year. Excluding the negative impact of foreign currency translation, as compared store sales decline 2.0%, and identical store sales decline 3.3%.
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"We are very pleased with our third quarter top-line and bottom-line results. We saw our first sequential improvement in comparable store and identical store sales trends in six quarters driven by both average transaction count and basket size trends," said John Mackey, chairman, chief executive officer, and co-founder of Whole Foods Market. "We believe we are continuing to strike the right balance between sales and gross margin while exhibiting strong cost control, producing a 23% increase in income from operations. We also generated $93 million of free cash flow, ending the quarter with $448 million in total cash and $335 million available on our credit line."
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