BOULDER, Colo. -- The rapid expansion of Wild Oats Markets has manifest itself in the company's first-quarter report.
with sales of $32.2 million for the same period in 1996.
The increase reflects the acquisition of six stores and the opening of one new store in the first quarter, as well as the inclusion of 13 stores acquired and seven new stores opened in fiscal 1996.
Net income for the quarter was $1.6 million, an increase of 533% from $246,000 reported in the year-ago quarter. Earnings per share were 22 cents, compared with 6 cents in the first quarter of 1996.
Comparable-store sales increased 8% for the quarter, doubling the 4% comp-store increase reported in the fourth quarter of 1996, the company said.
Wild Oats operates 47 stores in 10 states and British Columbia. The company said it will open four more stores in 1997, in Laguna Beach, Calif.; Denver, Phoenix and Chicago.
1ST-QUARTER RESULTS
Qtr Ended 3/29/97 3/30/96
Sales $69.7 million $32.2 million
Change + 116%
Comp-store + 8%*
Net Income $1.6 million $246,000
Change + 533%
Inc/Share 22 cents 6 cents
Comparable-store sales are based on both new and acquired stores that have been operating longer than 12 months.
