Whole Foods

[formerlurker]

Mon Feb 18, 2013, 04:21 AM

Star Member Sherman A1 (10,812 posts)

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Whole Foods Trims Sales Outlook
It appears that Whole Foods is still doing very well, despite their CEO's recent comments and general economic headwinds.

AUSTIN, Texas — Whole Foods Market here on Wednesday said its comparable-store sales growth slowed in the first quarter, and it slightly reduced its sales outlook for the year.

Comps in the 16-week first quarter, which ended Jan. 20, rose 7.2% — much higher than most of the food retailing industry but below its range of 8.5% to 8.9% over the past year.

The company also said its comps for the year are expected to fall in the range of 6.6% to 8%, vs. previous projections of 6.5% to 8.5%. Sales for the year are now expected to rise 10% to 11%, vs previous projections of 10% to 12%.

Net income for the first quarter was $146 million, vs. $118 million a year ago, and sales were up 14%, to $3.86 billion.


Read More: http://supermarketnews.com/retail-amp-financial/whole-foods-trims-sales-outlook#ixzz2LEzdGcWF

http://www.democraticunderground.com/10022392532

headline reader:

 

   quaker bill    2 hrs ago    #2

Response to Sherman A1 (Original post)
Mon Feb 18, 2013, 04:24 AM

Star Member Warpy (67,073 posts)
1. I guess they're finding out what Walmart admitted last week

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Their customers are tapped out. If they want increased sales, they're going to have to hope for a sizable hike in the minimum wage, something they will shriek about putting them out of business until it happens and their sales improve.

It looks like retail, at least, is finally relearning that the money pump works from the bottom up, not the top down.

Response to Warpy (Reply #1)

Mon Feb 18, 2013, 05:49 AM

quaker bill (6,960 posts)
2. Read it more carefully

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Sales are up at WF just not up as much as they estimated, but growing very fast for the industry. Having one around the corner, I can say that it is regularly packed with people, and that shopping there is not something you do if your budget is tight. The only beater cars in the lot would be mine and likely the staff that work there. The rest are pretty shiny, new, and pricey. I do not even want to go near the place on a saturday as it is jam packed from open to close.

They do carry much better produce than the other local options.

http://www.democraticunderground.com/10022392532

Well misfits, much to your horror and disappointment, I will be shopping at Whole Foods today - a store that is packed no matter what day of the week, or time of the day.  

You keep that boycott going though.   These things take time.  

[Karin]

a store that is packed no matter what day of the week, or time of the day.   

It is un-possible for Whole Foods to be packed.  It is currently under the iron fist of a DU boycott.  So there. 

[txradioguy]

And yet they still refuse to connect the dots and see that the policies of their hero are why sales are declining.

[Vagabond]

There's a Mom's Organic Food store araound the corner from my house.  I had been avoiding it figuring that everything was probably overpriced, but finally decided to have a look.  There certainly were things that were overpriced, but they also had a lot of items that were resonably priced.  Their produce was about the same as the big grocery store across the street from them, but not quite as good as the farmer's markets are on the weekend.

[formerlurker]

There's a Mom's Organic Food store araound the corner from my house.  I had been avoiding it figuring that everything was probably overpriced, but finally decided to have a look.  There certainly were things that were overpriced, but they also had a lot of items that were resonably priced.  Their produce was about the same as the big grocery store across the street from them, but not quite as good as the farmer's markets are on the weekend.

I love Farmer's markets (the capitalist pigs that they are), but Whole Foods prides itself on purchasing their produce locally - which means they buy from the same farmers who sell their produce at the farmer's market.   I typically purchase produce and vitamins from Whole Foods exclusively.

[NHSparky]

If they want increased sales, they're going to have to hope for a sizable hike in the minimum wage,

That is some ****ing weapons-grade stupidity right there, Warpy.  So now paying people $20/hr (or whatever number) is going to magically keep the prices of the products there the same, despite labor costs skyrocketing at every point of the production chain?

And again, DUmmies, look at the numbers--$146 million in income on $3.86 BILLION in sales...for a profit margin of a whopping 3.8 percent.  Which, for a grocery chain, is pretty damned good.

[Wineslob]

That is some ****ing weapons-grade stupidity right there, Warpy.  So now paying people $20/hr (or whatever number) is going to magically keep the prices of the products there the same, despite labor costs skyrocketing at every point of the production chain?

And again, DUmmies, look at the numbers--$146 million in income on $3.86 BILLION in sales...for a profit margin of a whopping 3.8 percent.  Which, for a grocery chain, is pretty damned good.

In most other markets/business's it's crap. But the DUmmies will scream "GROSS PROFITS!!!!!!"   


Damn, they fail at everything.