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.

Weis posts strong earnings, Bottom Dollar exceeding expectations

Weis Markets said yesterday that improvements in store productivity and cost controls contributed to net earnings of $20 million for its fiscal first quarter, an increase of 7.7% compared to the same period last year. In addition, sales increased 0.3% to $661.6 million, and comparable store sales improved by almost 1%.

On the other hand, despite positive results from Bottom Dollar, U.S. sales for the Delhaize Group fell 1.2% to $4.6 billion in the first quarter as compared to a year ago. Profits were down 21.7% to $173 million and comparable store sales fell 0.6%. According to the company, price investments at Food Lion and Hannaford are positioning the stores for long-term success but are coming at a cost to short-term earnings.

In their quarterly filing, Delhaize reported that Bottom Dollar continues to see strong revenue growth, and Philadelphia and Pittsburgh area stores are exceeding revenue expectations.