Acquisition Hurt Whole Foods’ 2Q Profit
Austin, Texas Whole Foods Market Inc. said Tuesday that sales surged in the second quarter but absorbing the Wild Oats chain it bought last year caused profit to sag by 13%.
The company said net income in the quarter ended April 13 fell to $40 million, from $46 million a year earlier. The grocer said last year’s acquisition of Wild Oats Markets Inc. cost $8.6 million in the quarter.
Revenue rose 28% to $1.87 billion, but fell short of analysts’ forecast of $1.89 billion.
Whole Foods repeated its forecast that sales will increase 25% to 30% in the current fiscal year, which ends in September, and same-store sales will rise 7.5% to 9.5%.
Through the first six months of its fiscal year, the company earned $79.1 million, compared with $99.74 million a year earlier. Sales gained 29.7% to $4.32 billion, and same-store sales increased 8.2%.
Whole Foods operates about 270 stores and has 89 locations in development.
Integrated Silicon Solution names cfo
SAN JOSE, Calif. Integrated Silicon Solution has announced the appointment of John Cobb to the position of cfo and vp of finance and administration effective May 12.
In Cobb’s most recent experience, he held the position of cfo and vp of finance and administration of power integrations, a San Jose, Calif.-based fabless analog semiconductor company, for five years.
Rocky Mountain Chocolate names new vps
DURANGO, Colo. Rocky Mountain Chocolate Factory has announced the appointment of two new officers to its management team. Donna Coupe has been hired as vp of franchise support at the company and Jeremy Kinney has been promoted to vp of finance.
Coupe has over 16 years prior experience with Rocky Mountain Chocolate Factory, during which time she served as retail store manager, field consultant and director of franchisee support.
Kinney has approximately nine years of experience with Rocky Mountain Chocolate Factory and has held a variety of operational and financial positions, including director of retail operations and operations analysis, and corporate controller.