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whole foods market inc (WFM) Key Developments

Whole Foods Market, Inc. Announces Earnings Results for the First Quarter Ended January 19, 2014

Whole Foods Market, Inc. announced earnings results for the first quarter ended January 19, 2014. For the quarter, the company reported that revenue increased 9.9% year-on-year to $4.2 billion. Net income was $158 million or $0.42 per diluted share, compared to net income of $146 million or $0.39 per diluted share for the same period a year ago.

Whole Foods Market, Inc. Presents at UBS Global Consumer Conference, Mar-12-2014 08:00 AM

Whole Foods Market, Inc. Presents at UBS Global Consumer Conference, Mar-12-2014 08:00 AM. Venue: Four Seasons Hotel Boston, 200 Boylston Street, Boston, Massachusetts, United States. Speakers: Walter E. Robb, Co-Chief Executive Officer and Director.

Whole Foods Market, Inc. to Open Mayfair Collection Store

Whole Foods Market, Inc. will open a store at the new Mayfair Collection mixed-use development in Wauwatosa in 2016. The 45, 150-square-foot supermarket, with a focus on organic and natural foods, will be housed in converted warehouse space at the northeast corner of W. Burleigh and N. 112th streets. Whole Foods will anchor the second phase of the Mayfair Collection, which is just east of Highway 45. It will be the second area store for Austin, Texas-based Whole Foods. The retailer opened a supermarket on Milwaukee's east side, at 2305 N. Prospect Ave., in 2006. Construction will begin this spring. It typically takes up to 18 months to open a new store.

Whole Foods Market, Inc. Announces Business Expansion

Whole Foods Market, Inc. announced that its has opened 10 stores in the first quarter of 2014 and has opened two stores so far in the second quarter of 2014, expanding into five new markets. One additional store is expected to open in the second quarter of 2014, with another 20 to 25 stores expected in the second half of the year of 2014. For the fiscal year 2014, the company expects to open 33 to 38 stores with total 394 to 399 stores. For the fiscal year 2015, the company is raising its range for estimated openings to reflect the recent Dominick's transaction. In the fiscal year 2015 the company expects to open 38 to 45 stores with total ending count of 429 to 439 stores. With a base of 373 stores and a record 107 stores in the company's development pipeline, the company expects to cross the 500-store mark in 2017.

Whole Foods Market, Inc. Reports Unaudited Consolidated Earnings Results for the First Quarter Ended January 19, 2014; Provides Earnings Guidance for the First Quarter of Fiscal 2015; Provides Earnings Guidance for the Remaining Nine Months of Fiscal 2014; Revised Earnings Guidance for the Fiscal Year 2014

Whole Foods Market, Inc. reported unaudited consolidated earnings results for the first quarter ended January 19, 2014. For the quarter, the company's sales were $4,239 million compared to $3,856 million a year ago. Operating income was $255 million compared to $235 million a year ago. Income before income taxes was $259 million compared to $238 million a year ago. Net income was $158 million or $0.42 per diluted share compared to $146 million or $0.39 per diluted share a year ago. Net cash provided by operating activities was $337 million compared to $303 million a year ago. Development costs of new locations were $122 million compared to $96 million a year ago. Other property and equipment expenditures were $97 million compared to $59 million a year ago. EBITDA was $366 million compared to $337 million a year ago. Adjusted EBITDA was $394 million compared to $365 million a year ago. Adjusted earnings were $158 million compared to $146 million a year ago. For the quarter, comparable store sales increased 5.4% on top of a 7.2% increase in the prior year. The spread between comparable store and identical store sales growth for the quarter, excluding six relocations and one expansion, was approximately 60 basis points. The company's strong results and capital expense disciplines drove a healthy 13.3% return on invested capital and generated $337 million of operating cash flow. The company provided earnings guidance for the remaining nine months of fiscal 2014. For the period, the company expects sales growth to be in the range of 11% to 12%, comparable store sales growth to be in the range of 5.5% to 6.5%, operating margin to be in the range of 7.0% - 7.3%, tax rate to be in the range of 38.7% to 39.0%, diluted EPS to be in the range of $1.16 to $1.23 and capital expenditures to be in the range of $381 million to $431 million. Whole Foods Market, Inc. provided earnings guidance for the first quarter of fiscal 2015. For the quarter, the company expected net income rose 8.2% to $158 million, or 42 cents a share The company revised earnings guidance for the fiscal year 2014. For the period, the company expects sales growth to be in the range of 11% to 12%, operating margin to be in the range of 6.7% - 7.0%, comparable store sales growth to be in the range of 5.5% to 6.2%, tax rate to be in the range of 38.8% to 39.0%, diluted EPS to be in the range of $1.58 to $1.65 and capital expenditures to be in the range of $600 million to $650 million compared to previously provided guidance of sales growth to be in the range of 11% to 13%, comparable store sales growth to be in the range of 5.5% to 7.0%, operating margin to be in the range of 6.9% - 7.3%, tax rate to be in the range of 38.7% to 39.0%, diluted EPS to be in the range of $1.65 to $1.69 and capital expenditures to be in the range of $600 million to $650 million. Based on the company's first quarter results and updated assumptions for the remainder of the fiscal year, the company is revising its fiscal year 2014 outlook. Additionally, the lower end of the company's sales and earnings guidance reflects a year-over-year decrease in gross margin for the remainder of the year, while the high end assumes gross margin is relatively flat, reflecting the company's ongoing value strategy and a tough 36.2% year-ago comparison.

 

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