We use our own and third-party cookies to optimize your experience on this site, including to maintain user sessions. Without these cookies our site will not function well. If you continue browsing our site we take that to mean that you understand and accept how we use the cookies. If you wish to decline our cookies we will redirect you to Google.
Already have an account? Sign in.

 Remember Me | Forgot Your Password?

Whole Foods Market Suffers Another Quarterly Drop In Same-Store Sales

May 10, 2017: 12:00 AM EST
Whole Foods Market posted generally healthy second quarter financials, but endured another quarterly decline in same-store sales. Total sales were up 1.1 percent to a record $3.7 billion for the quarter. Same-store sales, however, slid 2.8 percent, the seventh consecutive quarterly drop. Profit was $99 million (2.6 percent of sales), or an expected $0.37 a share. The company returned $45 million in dividends to shareholders. CEO John Mackey said a key goal is to return to positive same-store sales and earnings growth next year, though the company expects same-store sales to remain depressed this fiscal year. It hopes to trim $300 million in costs this year, and has hired a consulting firm to help it figure out how. Keith Manbeck was named the new chief financial officer. [Image Credit: © Whole Foods Market ]
"Whole Foods Market Provides Shareholder Update on Accelerated Path to Delivering Shareholder Value and Announces Second Quarter 2017 Results", Earnings release, Whole Foods Market , May 10, 2017, © Whole Foods Market
Domains
RETAIL BUSINESS
Market News
Operations
Strategy
Geographies
Worldwide
North America
United States of America
Categories
Companies, Organizations
Earnings Release
Market News
Developed by Yuri Ingultsov Software Lab.