Whole Foods 2012 Annual Report Download - page 29

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19
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,
2012
Sept. 25,
2011
Sept. 26,
2010
Sept. 27,
2009
Sept. 28,
2008
Consolidated Statements of Operations Data (1)
Sales $ 11,698,828 $ 10,107,787 $ 9,005,794 $ 8,031,620 $ 7,953,912
Cost of goods sold and occupancy costs 7,543,054 6,571,238 5,869,519 5,276,493 5,246,468
Gross profit 4,155,774 3,536,549 3,136,275 2,755,127 2,707,444
Direct store expenses 2,983,419 2,628,811 2,376,590 2,146,626 2,108,679
General and administrative expenses 372,065 310,920 272,449 243,749 270,428
Pre-opening expenses 46,899 40,852 38,044 49,218 55,554
Relocation, store closure and lease termination costs 9,885 8,346 11,217 31,185 36,545
Operating income 743,506 547,620 437,975 284,349 236,238
Interest expense (354) (3,882) (33,048) (36,856) (36,416)
Investment and other income 8,892 7,974 6,854 3,449 6,697
Income before income taxes 752,044 551,712 411,781 250,942 206,519
Provision for income taxes 286,471 209,100 165,948 104,138 91,995
Net income 465,573 342,612 245,833 146,804 114,524
Preferred stock dividends — — 5,478 28,050 —
Income available to common shareholders $ 465,573 $ 342,612 $ 240,355 $ 118,754 $ 114,524
Basic earnings per share $ 2.55 $ 1.96 $ 1.45 $ 0.85 $ 0.82
Weighted average shares outstanding 182,401 175,221 166,244 140,414 139,886
Diluted earnings per share $ 2.52 $ 1.93 $ 1.43 $ 0.85 $ 0.82
Weighted average shares outstanding, diluted basis 184,444 177,279 171,710 140,414 140,011
Dividends declared per common share $ 0.56 $ 0.40 $ — $ — $ 0.60
Consolidated Balance Sheets Data
Net working capital $ 1,125,443 $ 573,783 $ 413,647 $ 371,356 $ (43,571)
Total assets 5,294,216 4,292,075 3,986,540 3,783,388 3,380,736
Long-term debt (including current maturities) 24,122 17,905 508,698 739,237 929,170
Shareholders’ equity 3,802,469 2,991,305 2,373,258 1,627,876 1,506,024
Operating Data
Number of stores at end of fiscal year 335 311 299 284 275
Average store size (gross square footage) 38,000 38,000 38,000 37,000 36,000
Average weekly sales per store $ 682,000 $ 636,000 $ 588,000 $ 549,000 $ 570,000
Comparable store sales increase (2) 8.7% 8.5% 7.1% -3.1% 4.9%
Identical store sales increase (2) 8.4% 8.4% 6.5% -4.3% 3.6%
(1) Fiscal year 2012 was a 53-week year and fiscal years 2011, 2010, 2009 and 2008 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 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.