Whole Foods

Whole Foods Market Inc. (Austin, Texas) has reported a 23 percent sales increase for its third quarter ended July 3, 2005. The company said the increase was driven by 13 percent weighted average year-over-year square footage growth and comparable store sales growth of 15.2 percent.

Sales in identical stores (excluding four relocated stores and two major store expansions) increased 13.2 percent for the quarter. Net income increased 31 percent.

For the 40-week period ended July 3, sales increased 22 percent, with sales in comparable stores increasing 12.6 percent and sales in identical stores increasing 11.3 percent. Net income increased 27 percent.

“We are producing impressive sales and earnings results even as we compare against one of the best years in our company’s history,” said chairman, ceo and co-founder John Mackey. “Our comparable stores have produced a sales increase of 12.6 percent year to date on top of a 15.2 percent increase last year, our new stores continue to perform above our expectations, producing a record $618,000 in average weekly sales during the quarter, and our net income has increased 27 percent year to date on top of a 34 percent increase last year. We believe our goal of $10 billion in sales by the year 2010 is well within our reach.”

In the third quarter, the company opened three new stores, in Toronto, Middletown, N.J., and Metairie, La. (a relocation), ending the quarter with 170 stores totaling approximately 5.5 million square feet. The company said it expects to open five stores during the fourth quarter, ending the fiscal year with 175 stores and approximately 5.8 million square feet in operation. It recently signed 10 new store leases representing a total of approximately 616,000 square feet: Cupertino, Calif. (63,000 square feet); Hollywood, Calif. (61,000 square feet); San Jose, Calif. (45,000 square feet); Pembroke Pines, Fla. (55,000 square feet); Schaumberg, Ill. (67,000 square feet); Minneapolis (73,000 square feet); Paramus, N.J. (77,000 square feet); South Hills, Pa. (68,000 square feet); Dallas (51,000 square feet); and Madison, Wis. (55,000 square feet).