FINANCE

Whole Foods Market Q2 profit surges 20%; raises forecast

BY Marianne Wilson

Austin, Texas — Whole Foods Market on Tuesday reported that its second-quarter net income rose to $142 million from $118 million a year earlier, beating analysts estimates. The chain also raised its full-year forecast.

Total sales in the quarter ended April 14 increased to $3.03 billion, from $2.67 billion.
Same-store sales rose 6.9%.

"We delivered another quarter of strong sales and earnings growth, reporting record results on many levels,” said John Mackey, co-founder and co-chief executive officer of Whole Foods Market. “The demand for fresh, healthy foods continues to grow, and we are leading the way as America’s healthiest grocery store with close to seven million customers visitingourstoreseachweek. Webelievewewillcontinuetogainmarketshareasweaccelerateournewstoreopenings, improve our relative value proposition while maintaining our high quality standards, and further differentiate our shopping experience.”

Whole Foods, which currently has 349 stores, said it recently signed 10 new leases averaging 35,700 sq.ft. in size. The stores currently are scheduled to open in fiscal year 2014 and beyond.

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OPERATIONS

Staples names Groupon and eBay-Pal exec as VP, global e-commerce

BY Staff Writer

Framingham, Mass. — Staples announced that Faisal Masud has been appointed executive VP, global e-commerce, effective May 20, 2013. In this newly created role, Masud will be responsible for leading online and digital growth. He will report to Demos Parneros, president of North American stores and online for Staples.

He joins Staples from Groupon, Inc., where he was VP and general manager, responsible for managing Groupon Goods’ strategy and execution in over 35 countries, and directly managed all functions for his business unit, including merchandising, inventory, marketing, engineering and operations.

Prior to joining Groupon, Masud was head of global shipping and cross-border trade for eBay-PayPal. Previously, he was general manager, worldwide warehouse deals and global sourcing, with Amazon, where he led the development and implementation of a new retail storefront and managed the overall strategy for Amazon’s trade-in platform traffic generation, customer acquisition and pricing policy.

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REAL ESTATE

Younkers store in Wisconsin Rapids, Wis., to close

BY Staff Writer

York, Pa. — The Bon-Ton Stores announced it will close its Younkers store in the Rapids Mall in Wisconsin Rapids, Wis.

The company will not renew the lease, which terminates July 31, 2013. The closing will impact approximately 45 associates at this location.

The Bon-Ton acquired the leasehold interests in the Wisconsin Rapids store as part of the Northern Department Store Group acquisition in 2006. The department store retailer said it does not expect costs associated with the closing of the location to be material.

Associates in the Rapids Mall location will be offered the opportunity to interview for available positions at other Younkers stores or receive career transition benefits.

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