Key Developments For Whole Foods Market, Inc.
Whole Foods Market, Inc. (WFMI.O) (Nasdaq)
Whole Foods Market, Inc. Issues FY 2010 Guidance; EPS Guidance Below Analysts' Estimates
Whole Foods Market, Inc. announced that for fiscal 2010 it expects sales growth of 5% to 8%, comparable store sales growth of 1% to 4%, and identical store sales growth of 0% to 3%. The Company estimates EBITDA in the range of $625 million to $650 million and diluted earnings per share in the range of $1.05 to $1.10. The Company reported revenue of $8.0 billion for fiscal 2009. According to Reuters Estimates, analysts are expecting the Company to report revenue of $8.539 billion, EBITDA of $646 million and EPS of $1.11 for fiscal 2010.
Whole Foods Market, Inc. Comments On Q4 2009 Guidance; Updates FY 2009 Revenue Guidance
Whole Foods Market, Inc. announced that the Company is maintaining a conservative outlook for sales. If the Company's comparable and identical store sales in the fourth quarter of 2009 are in line with its quarter-to-date results, total sales growth would be approximately 2.9% for the fourth quarter of 2009 and approximately 1% for the fiscal 2009. The Company reported revenues of $7.953 billion in fiscal 2008. According to Reuters Estimates, analysts were expecting the Company to report revenues of $8.003 billion for fiscal 2009; revenues of $1.821 billion for fourth quarter of 2009.
Whole Foods Market, Inc. Partners With Non-GMO Project to Label Company's Private Label Food Products
Whole Foods Market, Inc. announced a commitment to the Non-GMO Project - a non-profit collaboration of manufacturers, retailers, processors, distributors, farmers, seed breeders and consumers - to use the Non-GMO's Product Verification Program (PVP) in connection with Whole Foods Market's private label products.
Whole Foods Market, Inc. Comments On H2 2009 Same Store Sale Guidance; Updates FY 2009 Revenue Guidance; Reaffirms FY 2009 Earnings Guidance
Whole Foods Market, Inc. announced that for the second half of 2009, it expects store contribution as a percentage of sales to be approximately in line with the 6.9% the Company produced in the first quarter. The Company announced that if the comparable and identical store sales in the second half of 2009 are consistent with its year-to-date results, total sales in fiscal 2009 would be just under $8.0 billion, including the opening of seven new stores in the second half of 2009. For fiscal 2009, the Company is maintaining its prior ranges for estimated EBITDA, EBITANCE and diluted earnings per share, excluding asset impairment charges. The Company estimates EBITDA in the range of $525 million to $545 million, EBITANCE in the range of $580 million to $605 million, and diluted earnings per share in the range of $0.71 to $0.76, including approximately $0.06 to $0.08 in estimated dilution from FTC-related legal costs and approximately $0.17 in dilution from the Series A Preferred Stock. According to Reuters Estimates, analysts were expecting the Company to report revenue of $8.045 billion, EBITDA of $526 million and non-GAAP EPS of $0.70 for fiscal 2009.
Whole Foods Market, Inc. and FTC Reach Settlement
Whole Foods Market, Inc. announced it has reached a settlement agreement resolving the Federal Trade Commission's (FTC) antitrust challenge to Whole Foods Market's August 2007 acquisition of Wild Oats Markets, Inc. Pursuant to FTC protocol, the settlement agreement has been placed on public record for a 30-day comment period ending April 6, 2009, after which the FTC will issue a final ruling. Under the terms of the agreement, a third-party divestiture trustee has been appointed to market for sale: leases and related assets for 19 non-operating former Wild Oats stores, 10 of which were closed by Wild Oats prior to the merger and nine of which were closed by Whole Foods Market; leases and related fixed assets (excluding inventory) for 12 operating acquired Wild Oats stores and one operating Whole Foods Market store; and Wild Oats trademarks and other intellectual property associated with the Wild Oats stores.
