This Day On The Street
Continue to site right-arrow
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

Whole Foods Market Reports First Quarter Results

Stocks in this article: WFM

The following table shows the Company's comparable store sales results for the last two quarters and for the first three weeks of the current second quarter. Sales of a store are deemed to be comparable commencing in the 53rd full week after the store opened. 

  Comparable Store Sales Growth Change in Transactions Change in Basket Size
Q4 ended September 29, 2013 5.9% 3.5% 2.5%
Q1 ended January 19, 2014 5.4% 3.1% 2.3%
Q2 through February 9, 2014 5.6% -- --

For the quarter, gross profit increased six basis points to 35.0% of sales due to lower occupancy costs as a percentage of sales, which partially offset a slight increase in cost of goods sold as a percentage of sales. Direct store expenses increased three basis points to 25.4% of sales, with leverage in wages offset by an increase in healthcare costs as a percentage of sales. As a result, store contribution improved three basis points to 9.6% of sales.

For identical stores, gross profit improved 18 basis points to 35.2% of sales, direct store expenses improved 31 basis points to 25.0% of sales, and store contribution improved 49 basis points to 10.1% of sales.

G&A increased 11 basis points to 3.1% of sales due primarily to increased investments in technology.

Additional information on the quarter for comparable stores and all stores is provided in the following table.

Comparable Stores Comps ROIC* # of Stores Average Size Total Square Feet
Over 15 years old (19 years old, s.f. weighted) 3.2% 115% 90 28,000 2,536,000
Between 11 and 15 years old 3.2% 92% 69 34,000 2,333,000
Between eight and 11 years old 3.0% 88% 48 42,000 2,022,000
Between five and eight years old 7.3% 44% 54 54,000 2,905,000
Between two and five years old 6.6% 26% 49 44,000 2,139,000
Less than two years old (including six relocations) 19.5% 12% 34 36,000 1,234,000
All comparable stores (9.6 years old, s.f. weighted) 5.4% 56% 344 38,000 13,169,000
All stores (8.9 years old, s.f. weighted)   47% 371 38,000 14,155,000
* Defined as annualized store-level income after taxes divided by average invested capital; does not reflect any as-if effect of capitalizing operating leases

Growth and Development

The Company opened 10 stores in the first quarter and has opened two stores so far in the second quarter, expanding into five new markets. One additional store is expected to open in the second quarter, with another 20 to 25 stores expected in the second half of the year. The Company currently has 373 stores totaling approximately 14.2 million square feet and considers 1,200 stores to be a reasonable indication of its market opportunity in the United States over the long term.

2 of 5

Select the service that is right for you!

Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!


DOW 17,804.80 +26.65 0.15%
S&P 500 2,070.65 +9.42 0.46%
NASDAQ 4,765.38 +16.9840 0.36%

Brokerage Partners

Rates from

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs