Whole Foods Markets (WFM)

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Whole Foods Market Reports Fourth Quarter Results

Nov. 3, 2010, 4:02 p.m. EDT

Identical Store Sales Increase 8.7% and Accelerate to 6.4% on a Two-Year Basis; Company Produces 4.8% Operating Margin, $0.33 in Earnings Per Share and Raises Outlook for Fiscal Year 2011 by $0.07 Per Share

AUSTIN, Texas, Nov 3, 2010 (GlobeNewswire via COMTEX) -- Whole Foods Market, Inc. /quotes/comstock/15*!wfmi/quotes/nls/wfmi (WFMI 44.41, +3.34, +8.13%) today reported results for the 12-week fourth quarter and 52-week fiscal year ended September 26, 2010.

Sales for the quarter increased 15% to $2.1 billion. Comparable and identical store sales increased 8.7%, or 7.7% and 6.4% on a two-year stacked basis, respectively. Year over year, earnings before interest, taxes, depreciation and amortization ("EBITDA") increased 26% to $165.4 million, income available to common shareholders increased 101% to $57.5 million, and diluted earnings per share increased 63% to $0.33.

"Our ability to perform against tougher sales comparisons has continued to surpass our expectations, translating to better-than-expected identical store sales growth of 8.7% in the fourth quarter, an acceleration to 6.4% on a two-year basis. We are proud to be gaining market share at a faster rate than most public food retailers," said John Mackey, co-chief executive officer and co-founder of Whole Foods Market. "We attribute much of our success to the progress we have made in our relative price positioning and to our initiatives in areas such as healthy eating, animal welfare and sustainable seafood. These initiatives are aligned with our core customer base and reinforce our position as the authentic retailer of natural and organic foods, further differentiating the Whole Foods Market shopping experience and making us the preferred choice for customers aspiring to a healthier lifestyle."

The Company's comparable and identical store sales results for the last five quarters and first five weeks of the first quarter through October 31, 2010 are shown in the following table.

http://www.marketwatch.com/story/whole-foods-market-reports-fourth-quarter-results-2010-11-03?reflink=MW_news_stmp