Whole Foods 2007 Annual Report Download - page 31

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25
Item 6. Selected Financial Data.
Whole Foods Market, Inc.
Summary Financial Information
(In thousands, except per share amounts and operating data)
The following selected financial data are derived from the Company’s consolidated financial statements and should be read
in conjunction with “Item 7. Management’s Discussion and Analysis of Financial Condition and Results of
Operations” and “Item 8. Financial Statements and Supplementary Data.”
Sept. 30, Sept. 24, Sept. 25, Sept. 26, Sept. 28,
2007 2006 2005 2004 2003
Consolidated Statements of Operations Data (1)
Sales $ 6,591,773 $ 5,607,376 $ 4,701,289 $ 3,864,950 $ 3,148,593
Cost of goods sold and occupancy costs 4,295,170 3,647,734 3,052,184 2,523,816 2,070,334
Gross profit 2,296,603 1,959,642 1,649,105 1,341,134 1,078,259
Direct store expenses 1,711,229 1,421,968 1,223,473 986,040 794,422
General and administrative expenses 217,743 181,244 158,864 119,800 100,693
Pre-opening and relocation costs 70,180 37,421 37,035 18,648 15,765
Operating income 297,451 319,009 229,733 216,646 167,379
Interest expense (4,208) (32) (2,223) (7,249) (8,114)
Investment and other income 11,324 20,736 9,623 6,456 5,593
Income before income taxes 304,567 339,713 237,133 215,853 164,858
Provision for income taxes 121,827 135,885 100,782 86,341 65,943
Net income $ 182,740 $ 203,828 $ 136,351 $ 129,512 $ 98,915
Basic earnings per share $ 1.30 $ 1.46 $ 1.05 $ 1.06 $ 0.84
Weighted average shares outstanding 140,088 139,328 130,090 122,648 118,070
Diluted earnings per share $ 1.29 1.41 $ 0.99 $ 0.99 $ 0.79
Weighted average shares outstanding, diluted basis 141,836 145,082 139,950 135,454 130,660
Dividends declared per share $ 0.87 $ 2.45 $ 0.47 $ 0.30 $ -
Consolidated Balance Sheets Data
Net working capital $ (116,530) $ 114,211 $ 254,146 $ 151,147 $ 121,574
Total assets 3,213,128 2,042,996 1,889,296 1,521,006 1,213,568
Long-term debt (including current maturities) 760,868 8,655 18,864 170,743 168,715
Shareholders’ equity 1,458,804 1,404,143 1,365,676 949,638 744,976
Operating Data
Number of stores at end of fiscal year 276 186 175 163 145
Average store size (gross square footage) 34,000 34,000 33,000 32,000 31,000
Average weekly sales per store $ 617,000 $ 593,000 $ 537,000 $ 482,000 $ 424,000
Comparable store sales increase (2) 7.1% 11.0% 12.8% 14.9% 8.6%
Identical store sales increase (2) 5.8% 10.3% 11.5% 14.5% 8.1%
(1) Fiscal year 2007 was a 53-week year and fiscal years 2006, 2005, 2004, and 2003 were 52-week years.
(2) Sales of a store are deemed to be “comparable” commencing in the fifty-third full week after the store was opened or
acquired. Identical store sales exclude sales for remodels with expansions of square footage greater than 20% and
relocations. Stores closed for eight or more days are excluded from the comparable and identical store base in the first
fiscal week of closure until re-opened for a full fiscal week.