Whole Foods Market has reported results for the 16-week first quarter ending January 17, revealing that total sales increased by 3 per cent to $4.8 billion (€4.23 billion). However, comparable store sales on a constant currency basis decreased by 1.8 per cent.
Meanwhile, earnings before interest, depreciation and amortization were $399 million, representing 8.3 per cent of sales.
During the quarter, the company’s operations produced $232 million in cash flow, and it invested $179 million in capital expenditures, and returned $45 million in quarterly dividends to shareholders. It also repurchased $634 million or 21.2 million shares of common stock.
Walter Robb, co-chief executive officer of Whole Foods Market commented, "We delivered record sales of $4.8 billion this quarter and are pleased with the progress we have made on our nine-point plan outlined in November."
He added that the company has improved its cost structure, stepped up its value efforts, and announced the launch of digital coupons within its mobile app.
"We believe we will deliver strong returns to shareholders over the long term as we improve our price perception, better communicate our higher quality standards and differentiation, and continue to fundamentally evolve our business," he said.
Three new Whole Food stores were opened in during the first quarter, with a further two opened so far in this quarter, and six more planned.
© 2016 European Supermarket Magazine – your source for the latest retail news. Article by Jenny Whelan. To subscribe to ESM: The European Supermarket Magazine, click here.
