FINANCE

Whole Foods Q1 profit jumps 24%

BY Marianne Wilson

Austin, Texas — Whole Foods Market Inc. reported that its first-quarter net income rose 24% to $146 million, exceeding expectations, on stronger revenue. But the grocer narrowed its revenue forecast and said its earnings growth may slow through the remainder of the year amid higher store-opening costs and plans to increase its selection of lower-priced products.

Total sales increased nearly 14% to $3.86 billion for the 16-week period that ended Jan. 20. Same-store sales were up 7.2% for the quarter.

Whole Foods opened 10 stores in the first quarter and has opened one store so far in the second quarter. It plans to open five additional stores in the current quarter.

The company said it recently signed 11 new leases averaging 38,800 sq. ft. in size. These stores are scheduled to open in fiscal year 2014 and beyond.

The retailer also closed on the purchase of six locations from Johnnie’s Foodmaster on Nov.30, which expands its presence in the Boston area. It is remodeling the stores and plans to reopen them under the Whole Foods Market banner in its 2013 fiscal year.

"We opened a record number of stores and delivered another quarter of strong sales and earnings growth," said Walter Robb, co-CEO of Whole Foods Market. "We are well-positioned to internally fund our expansion plans and have the pipeline and infrastructure in place for square footage growth to accelerate through 2014 and hopefully beyond."

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OPERATIONS

Belk names former Family Dollar exec to new position of VP omni-channel

BY Staff Writer

Charlotte, N.C. — Belk has named Dorlisa Flur to the newly created position of EVP omni-channel, reporting to John Belk, president and chief operating officer.

Flur joins Belk after eight years at Family Dollar Stores, most recently as vice chair, strategy and chief administrative officer. Prior roles included chief merchandising officer and the EVP strategy and marketing. Prior to Family Dollar Stores, Flur spent her professional career at management consulting firm McKinsey and Company.

One of the major components of Belk’s long term strategy is creating a compelling, seamless omni-channel environment for customers, which fully integrates the digital experience with the store experience. The initial implementation of this strategy will span three to four years and will include replatforming e-commerce, replacing existing point of sale systems, advancing Belk’s mobile applications, installing customer data warehouse and analytics and establishing enterprise inventory availability. In her newly created position, Flur will oversee this effort and lead a team consisting of representatives from IT, e-commerce and stores.

“Like many retailers, we are early in our omni-channel journey, and we know it will be critical to our success going forward," Belk said in a statement. “We are fortunate to have someone with the talent and experience of Dorlisa Flur to lead us.”

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S.Hance says:
Mar-12-2013 05:33 am

Family Dollar has a quite
Family Dollar has a quite wide range of stores. Dollar store is not literary the dollar store but it is a variety store. - Peter F. Spittler

S.Hance says:
Mar-12-2013 05:33 am

Family Dollar has a quite wide range of stores. Dollar store is not literary the dollar store but it is a variety store. - Peter F. Spittler

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REAL ESTATE

Cabela’s to open Outpost store in Waco, Texas

BY Staff Writer

Sidney, Neb. — Cabela’s Inc. announced plans to open a 42,000-sq.-ft. Cabela’s Outpost store in Waco, Texas.

Construction is scheduled to begin this spring and doors are expected to open this fall. It will be the company’s fourth store in Texas, joining the Fort Worth, Buda and Allen locations.

Cabela’s Outpost format is designed for efficiency, flexibility and convenience at approximately 40,000-sq.-ft. It features seasonal product assortments and a rugged, outdoor look and theme, including trophy wildlife displays.

Currently, Cabela’s operates 41 stores across the United States and Canada with plans to open an additional 14 by the end of 2014. The company opened its first Cabela’s Outpost store in Union Gap, Wash., in October 2012. It also opened a Cabela’s Outpost store in Saginaw, Mich., today.

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