AUSTIN, Texas — Whole Foods Market here said a combination of a better price image and strong selection resulted in an increase in comparable-store sales of 8.4% for the fiscal third quarter, once again far exceeding sales results at other public companies.
Net income for the 12-week quarter, which ended July 3, rose 34.6% to $88.5 million and sales climbed 10.9% to $2.4 billion. For the year to date, net income increased 41.8% to $$267.1 million and sales jumped 12.2% to $7.8 billion, with comparable sales up 8.5%.
According to Walter Robb, co-chief executive officer, "We are continuing to gain market share at a faster rate than most public food retailers, [which] we attribute to our value efforts, which have improved our price image, and to continuing to raise the bar in areas that matter to our customers, particularly quality standards and health and wellness.
"We are producing consistently strong top- and bottom-line results and are very excited to be accelerating our new-store openings once again. Through continued innovation and ongoing discipline around expenses and capital allocation, we expect to deliver higher levels of both operating performance and returns on invested capital over time."
