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Whole Foods Sees Clear Sailing for New Stores

AUSTIN-As many as 10 new stores could roll out in the second half of the year under the Whole Foods branding. The Austin-based natural foods grocery chain has bagged a good first-quarter showing for stockholders.

By Tim Green | Updated on February 13, 2002

AUSTIN-Whole Foods Market Inc., the largest natural foods supermarket chain, Wednesday reported higher first-quarter revenue and said it expects to open as many as 10 stores in the second half of the year.

The Austin-based company posted net income of $20.1 million, 34 cents per share, on sales of $780.8 million in the quarter ending Jan. 20. That compares to net income of $15 million, 27 cents a share, on sales of $643.4 million in the quarter ending Jan. 14, 2000.

The company said sales growth came from 16% year after year of growth and better-than-expected comparable store sales of 9.4%. “New stores produced average weekly sales of $380,000 and our comparable store sales increases continue to be the highest for public supermarket companies and among the highest in retail,” CEO John Mackey said in announcing the financial results.

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