Whole Foods 2009 Annual Report Download - page 31

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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. 27, Sept. 28, Sept. 30, Sept. 24, Sept. 25,
2009 2008 2007 2006 2005
Consolidated Statements of Operations Data1
Sales $ 8,031,620 $ 7,953,912 $ 6,591,773 $ 5,607,376 $ 4,701,289
Cost of goods sold and occupancy costs 5,277,310 5,247,207 4,295,170 3,647,734 3,052,184
Gross profit 2,754,310 2,706,705 2,296,603 1,959,642 1,649,105
Direct store expenses 2,145,809 2,107,940 1,711,229 1,421,968 1,223,473
General and administrative expenses 243,749 270,428 217,743 181,244 158,864
Pre-opening expenses 49,218 55,554 59,319 32,058 33,856
Relocation, store closure, and lease termination costs 31,185 36,545 10,861 5,363 3,179
Operating income 284,349 236,238 297,451 319,009 229,733
Interest expense (36,856) (36,416) (4,208) (32) (2,223)
Investment and other income 3,449 6,697 11,324 20,736 9,623
Income before income taxes 250,942 206,519 304,567 339,713 237,133
Provision for income taxes 104,138 91,995 121,827 135,885 100,782
Net income 146,804 114,524 182,740 203,828 136,351
Preferred stock dividends 28,050 - - - -
Income available to common shareholders $ 118,754 $ 114,524 $ 182,740 $ 203,828 $ 136,351
Basic earnings per share $ 0.85 $ 0.82 $ 1.30 $ 1.46 $ 1.05
Weighted average shares outstanding 140,414 139,886 140,088 139,328 130,090
Diluted earnings per share $ 0.85 $ 0.82 $ 1.29 $ 1.41 $ 0.99
Weighted average shares outstanding, diluted basis 140,414 140,011 141,836 145,082 139,950
Dividends declared per common share $ - $ 0.60 $ 0.87 $ 2.45 $ 0.47
Consolidated Balance Sheets Data
Net working capital $ 371,356 $ (43,571) $ (104,364) $ 114,211 $ 254,146
Total assets 3,783,388 3,380,736 3,213,128 2,042,996 1,889,296
Long-term debt (including current maturities) 739,237 929,170 760,868 8,655 18,864
Shareholders’ equity 1,627,876 1,506,024 1,458,804 1,404,143 1,365,676
Operating Data
Number of stores at end of fiscal year 284 275 276 186 175
Average store size (gross square footage) 37,000 36,000 34,000 34,000 33,000
Average weekly sales per store $ 549,000 $ 570,000 $ 617,000 $ 593,000 $ 537,000
Comparable store sales increase2 -3.1% 4.9% 7.1% 11.0% 12.8%
Identical store sales increase2 -4.3% 3.6% 5.8% 10.3% 11.5%
1 Fiscal years 2009, 2008, 2006 and 2005 were 52-week years and fiscal year 2007 was a 53-week year.
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 from relocated stores and remodeled stores with expansions of square footage
greater than 20% from the comparable calculation. 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.