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Whole Foods' Comps Surge

AUSTIN, TX-But the company doesn't expect those kind of numbers to continue in 2005.

By Dees Stribling | Updated on February 10, 2005

AUSTIN, TX-Grocery chain Whole Foods Market Inc. scored impressive comp store gains of 11.4% in its first fiscal quarter of 2005, which ended Jan. 16, compared with the same period a year ago. Total sales for the chain were up as well, about 22% to $1.4 billion.

“We have a stated long-term growth goal of $10 billion in sales by the year 2010,” said co-founder, CEO and chairman John Mackey during the company’s earnings conference call, adding that Whole Food’s 2004 numbers are going to be tough acts to follow. “We produced above-average increases in sales, comps and earnings per share in 2004 of 23%, 15% and 26%, and will, therefore, face difficult comparisons in 2005, particularly in the second quarter of the year.”

For the rest of the year, in fact, Mackey said the company is expecting lower comps. “For the fiscal year, we expect sales growth of 15% to 20%, driven by comparable store sales growth of 8% to 10%,” he noted. “We do not expect the same level of year-over-year increases in sales and earnings produced in the first quarter to continue throughout the year.”

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