Whole Foods 2011 Annual Report Download - page 25

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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. 25, Sept. 26, Sept. 27, Sept. 28, Sept. 30,
2011 2010 2009 2008 2007
Consolidated Statements of Operations Data1
Sales $ 10,107,787 $ 9,005,794 $ 8,031,620 $ 7,953,912 $ 6,591,773
Cost of goods sold and occupancy costs 6,571,238 5,869,519 5,276,493 5,246,468 4,294,639
Gross profit 3,536,549 3,136,275 2,755,127 2,707,444 2,297,134
Direct store expenses 2,628,811 2,376,590 2,146,626 2,108,679 1,711,760
General and administrative expenses 310,920 272,449 243,749 270,428 217,743
Pre-opening expenses 40,852 38,044 49,218 55,554 59,319
Relocation, store closure and lease termination costs 8,346 11,217 31,185 36,545 10,861
Operating income 547,620 437,975 284,349 236,238 297,451
Interest expense (3,882) (33,048) (36,856) (36,416) (4,208)
Investment and other income 7,974 6,854 3,449 6,697 11,324
Income before income taxes 551,712 411,781 250,942 206,519 304,567
Provision for income taxes 209,100 165,948 104,138 91,995 121,827
Net income 342,612 245,833 146,804 114,524 182,740
Preferred stock dividends - 5,478 28,050 - -
Income available to common shareholders $ 342,612 $ 240,355 $ 118,754 $ 114,524 $ 182,740
Basic earnings per share $ 1.96 $ 1.45 $ 0.85 $ 0.82 $ 1.30
Weighted average shares outstanding 175,221 166,244 140,414 139,886 140,088
Diluted earnings per share $ 1.93 $ 1.43 $ 0.85 $ 0.82 $ 1.29
Weighted average shares outstanding, diluted basis 177,279 171,710 140,414 140,011 141,836
Dividends declared per common share $ 0.40 $ - $ - $ 0.60 $ 0.87
Consolidated Balance Sheets Data
Net working capital $ 573,783 $ 413,647 $ 371,356 $ (43,571) $ (104,364)
Total assets 4,292,075 3,986,540 3,783,388 3,380,736 3,213,128
Long-term debt (including current maturities) 17,905 508,698 739,237 929,170 760,868
Shareholders’ equity 2,991,305 2,373,258 1,627,876 1,506,024 1,458,804
Operating Data
Number of stores at end of fiscal year 311 299 284 275 276
Average store size (gross square footage) 38,000 38,000 37,000 36,000 34,000
Average weekly sales per store $ 636,000 $ 588,000 $ 549,000 $ 570,000 $ 617,000
Comparable store sales increase2 8.5% 7.1% -3.1% 4.9% 7.1%
Identical store sales increase2 8.4% 6.5% -4.3% 3.6% 5.8%
1 Fiscal years 2011, 2010, 2009, and 2008 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.
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