Whole Foods 2008 Annual Report Download - page 53

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47
Whole Foods Market, Inc.
Consolidated Statements of Operations
(In thousands, except per share amounts)
Fiscal years ended September 28, 2008, September 30, 2007 and September 24, 2006
2008 2007 2006
Sales $ 7,953,912 $ 6,591,773 $ 5,607,376
Cost of goods sold and occupancy costs 5,247,207 4,295,170 3,647,734
Gross profit 2,706,705 2,296,603 1,959,642
Direct store expenses 2,107,940 1,711,229 1,421,968
General and administrative expenses 270,428 217,743 181,244
Pre-opening expenses 55,554 59,319 32,058
Relocation, store closure and lease termination costs 36,545 10,861 5,363
Operating income 236,238 297,451 319,009
Interest expense (36,416) (4,208) (32)
Investment and other income 6,697 11,324 20,736
Income before income taxes 206,519 304,567 339,713
Provision for income taxes 91,995 121,827 135,885
Net income $ 114,524 $ 182,740 $ 203,828
Basic earnings per share $ 0.82 $ 1.30 $ 1.46
Weighted average shares outstanding 139,886 140,088 139,328
Diluted earnings per share $ 0.82 $ 1.29 $ 1.41
Weighted average shares outstanding, diluted basis 140,011 141,836 145,082
Dividends declared per share $ 0.60 $ 0.87 $ 2.45
The accompanying notes are an integral part of these consolidated financial statements.