What is in this article?:
- 5 takeaways from Whole Foods Market’s latest earnings report
- 1. Health and wellness is a sweet spot for food retail
- 2. Suburbs are home to opportunity
- 3. Expect to see more Whole Foods stores
- 4. Big things can come from smaller stores
- 5. Food inflation is moderating
A deep dive into Whole Foods’ first quarter earnings report reveals five important lessons that natural food grocers should pay attention to in 2012.
Whole Foods Market started its fiscal year 2012 with a bang, according to the numbers released Feb. 8 in its first quarter earnings report. The retailer’s profits jumped 33 percent to $118.3 million for the quarter, while its comparable-store sales grew 8.7 percent and its sales per square foot hit a record level of $929.
As Whole Foods’ latest numbers show (and as industry analysts were eager to hear), the company continues to build on its sales momentum—which is fueled by its ability to cater to both high-end and more value-conscious shoppers. “Whole Foods continues to gain share by broadening [the store’s] appeal to a wider range of income, education and age demographics,” Karen Short, an analyst with BMO Capital Markets in New York, told Supermarket News.
Serving customers across the economic spectrum is increasingly important for all natural products retailers. A closer look at Whole Foods’ latest earnings report reveals five other important takeaways that food grocers should pay attention to in 2012.