Whole Foods has reported its fourth-quarter profits reached US$128 million, or 35 cents per share, numbers that surpassed the 32 cents per share outlook for the quarter. In the same period last year, the company earned US$121 million, or 32 cents per share. Revenue grew by 9.4 per cent to US$3.26 billion, matching expectations.
Since Whole Foods has experienced a larger number of competitors in recent years, it has made an effort to set itself apart by being more transparent for consumers on product origin, its plans to label all products that contain genetically modified organisms by 2018, and offering one-hour grocery delivery in 15 markets in the United States. It has also made an effort to lower prices by advertising its store brands as a value-priced alternative.
Whole Foods currently has 400 locations, 13 of which are new locations opened this quarter, and would like to see 1,200 U.S. locations eventually. In its next fiscal year, the company believes its revenue will grow by single digits.
