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Organic growth for Whole Foods Market

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Whole Foods Market announced personal record-breaking sales in its first quarter following a heavy shareholder restructuring.

The American health-focused grocery chain announced a $1bn share repurchase in November, leaving it $1.1bn in debt at the end of its first quarter. Net income for the quarter fell to £109m, as available capital reached £971m.

The move did not leave it crippled, however, as the chain enjoyed £3.3bn in sales for the first quarter of 2016, breaking its previous record of $3.24bn.

Walter Robb, Co-Chief Executive of Whole Foods Market, expressed confidence in delivering shareholder return “over the long term as we improve our price perception, better communicate our higher quality standards and differentiation, and continue to fundamentally evolve our business.”

Known as America’s healthiest grocery store chain, of the 436 Whole Foods Market stores worldwide almost all UK outlets can be found in London. Although known for high costs, the chain will soon be offering “digital coupons” via its mobile app. 

Whole Foods Market is also known for offering advice and recipes for healthy eating on its website.

Published on Thursday 11 February by Philip Gallagher

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