Whole Foods 2Q sales up 13%
AUSTIN, Texas Whole Foods Market reported that second-quarter sales increased 13% to $2.1 billion. Comparable-store sales increased 8.7%, or 3.9% on a two-year stacked basis. Identical-store sales, excluding four relocations, increased 7.7%, or 1.9% on a two-year stacked basis.
Income available to common shareholders increased 147% to $67.5 million, and diluted earnings per share increased 102% to 39 cents per diluted share.
“Our second quarter results are the best we have reported in several years, with extremely strong growth in comparable store sales, earnings and cash flow,” said John Mackey, chief executive officer and co-founder of Whole Foods Market. “We have successfully emerged from this recession with a healthier balance sheet and better capital disciplines. Our new stores are performing very well, and we look forward to rebuilding our store development pipeline and re-accelerating our square footage growth in the future.”
Clarke confirmed as Asda CEO
BENTONVILLE, Ark. Walmart officially named Andy Clarke as head of its Asda unit in the United Kingdom, ending speculation that began last week following former CEO Andy Bond’s unexpected decision to relinquish the top job. Bond will remain as chairman, and Clarke assumes the role of president and CEO immediately. Clarke is an Asda veteran who joined the company in 1992 and progressed through a variety of roles that began with store manager. He left the company for a brief period from 2001 to 2005 to join Matalan, but returned to Asda as a retail director and was named COO in 2007. Bond said Clarke was the right choice for the job following a review of internal and external candidates.
Commenting on the leadership transition, Walmart international division president and CEO Doug McMillon said, “At Walmart and at Asda, we have a robust succession planning and talent development process and Andy Clarke has long been identified as a leader. He is the ideal person for the job and this will be a seamless leadership change.”
Target donates $2.3M to Feeding America
MINNEAPOLIS Target announced that it is donating $2.3 million to Feeding America to fund a school food pantry pilot program and its future expansion to more schools nationwide. The program, ‘Meals for Minds,’ is a partnership with Feeding America and local food banks that will bring food to schools to feed students and families most in need, the company reported. Target also is committing $1.2 million on top of the $2.3 million, to local food banks across the country to support other school-based food programs. The company also is projected to donate more than 20 million pounds of food to children and families in need in 2010.
“Through ‘Meals for Minds’ and our ongoing partnership with Feeding America and local food banks, Target is helping children focus on learning and their educational future — not on how or when they will get their next meal,” says Laysha Ward, president of community relations for Target. “Early results of the pilot are encouraging and we’re excited to expand the program to even more schools.”
Target began piloting the “Meals for Minds” school pantry program this spring in Minneapolis/St. Paul, Miami, Baltimore, Los Angeles and Chicago. The pilot schools were selected by participating food banks, in cooperation with local schools. At each school, 65% to 90% of students qualify for participation in the Free and Reduced Lunch program.