Whole Foods Market (Austin, Texas) reported sales for the second quarter, ended April 12, 2009, were $1.9 billion, in line with the prior year. The specialty food grocer saw comparable store sales decrease 4.8 percent, versus a 6.7 percent increase a year prior.
“We are very pleased with our second quarter results, including free cash flow of $98 million,” says John Mackey, chairman, ceo and co-founder of Whole Foods Market. “Despite flat sales year over year, we exhibited strong expense control leading to a 10 percent increase in income from operations excluding non-cash asset impairment charges.”
The company, which operates 280 stores, opened three new locations in the second quarter, including one relocation. In the third quarter, the company expects to relocate stores in Vancouver, B.C. and Annapolis, Md.
Whole Foods is awaiting final approval of the settlement agreement reached with the FTC resolving its antitrust challenge to its acquisition of Wild Oats Markets Inc.