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article imageWhole Foods Market sees healthy boost in profits in 2013

By Leigh Goessl     May 8, 2013 in Business
Whole Foods Market reported its financial results for its second quarter. The company said sales and profits have been increasing this year.
Whole Foods Market, Inc. reported its financial situation at the end of its 12-week second quarter. Reuters reported the company has "rebounded" as it reshapes its vision for the future to reach beyond its "core of upscale shoppers".
Bloomberg reported the company's net income rose to about $142 million, up from $118 million this time last year.
The company has been making some changes, which have included lowering some of its prices and is also pushing for non-GMO products to line its shelves. Earlier this year the company said it was increasing GMO transparency for its suppliers by requiring GMO labeling by 2018.
“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, in the company issued report [PDF]. “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 visiting our stores each week."
Mackey went on to say the company believes it will continue to gain market share. Future plans include opening new stores, maintaining high quality standards while improving "our relative value proposition".
Not everyone is pleased with Mackey though. He's an outspoken opponent of "Obamacare" and his comments have angered some. Reuters reported thousands of people threatened to boycott and others are weaning themselves away from the store. Yet, some are willing to overlook Mackey's comments due to their shopping experiences at Whole Foods stores.
Media reports indicate that the consumer demand for organic and natural foods are also a likely factor in the company's financial health.
After the announcement, reportedly Whole Foods shares rose more than 8 percent. At time of publish, this number is at 10.92 percent.
More about Whole Foods, whole foods market, Profits, 2013, gmo labeling
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