Whole Foods reports 1Q comps, idents decreases

AUSTIN, Texas Whole Foods Market announced that sales for its first quarter ended Jan. 18 were $2.5 billion, in line with the prior year. Comparable-store sales decreased 4% versus a 9.3% increase in the prior year. Identical-store sales, excluding eight relocated stores and three major expansions, decreased 4.9% versus a 7.1% increase in the prior year.

“The difficult strategic decisions we made last August to contain costs and cut capital spending are helping us successfully manage through this challenging economic environment,” said John Mackey, chairman, CEO, and co-founder of Whole Foods Market.

Whole Foods has decided not to provide comparable-store sales growth guidance for fiscal year 2009. The company has, however, provided base-case assumptions using flat comparable-store sales, which translate to sales of approximately $8.3 billion driven by the opening of 15 new stores, seven of which are relocations.