Thursday, August 2, 2012

Whole Foods and Weis Markets report net earnings increases

Whole Foods and Weis Markets both reported increases in net earnings last week.

Whole Foods:

  • Net income for the third quarter was up 32% compared to the same period one year ago, driven by an 8.2% gain in same-store sales, according to the company.
  • Net income for the quarter was $116.8 million, and sales were up 14% to $2.7 billion.
  • For the fiscal year-to-date (40 weeks), net income rose 32% to $352.8 billion on a 13% increase in sales, to $8.8 billion. 
  • The company opened nine new stores in the quarter, including one relocation. Seven new locations are expected for the fourth quarter.
  • There are currently 329 stores.

Weis Markets:

  • Compared to the same quarter last year, net earnings for Weis Markets' second quarter increased 12.1% to $23.2 million due to improved operating efficiencies and decreased deprecation, according to the company.
  • Sales improved 0.1% to $677 million, while comparable-store sales increased 0.4%.
  • Operating income climbed 11.4% to $35.3 million.
  • Year-to-date, net income increased 10% to $26.9 million on sales of $1.3 billion, a 0.2% gain.

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