Whole Foods reports strong 2Q growth

AUSTIN, Texas Whole Foods Market reported second quarter sales increased 27.6% to approximately $1.9 billion. Comparable-store sales increased 6.7%, and identical-store sales, excluding four relocated stores and two major expansions, increased 5.1%. Net income was approximately $40 million, and diluted earnings per share were 29 cents.

The company estimates the negative impact on net income from Wild Oats was approximately $8.6 million, or 6 cents per diluted share, in the quarter. Approximately $68.4 million relating to share-based payments, depreciation and amortization, LIFO and deferred rent was expensed for accounting purposes but was non-cash.

"Our business model is very successful. We are continuing to produce higher sales, comps and sales per square foot than our public competitors, and the results in our core stores are strong," said John Mackey, chairman, ceo, and co-founder of Whole Foods Market. "We believe the investments we are making today in our new, acquired and existing stores will result in strong earnings growth in the future, and we are continuing to move forward with executing our long-term growth plans."