Whole Foods Market just released its second quarter fiscal 2017 financial results, posting earnings, before non-recurring items, of 37 cents per share and revenues of $3.7 billion. Currently, WFM is a #4 (Sell) on the Zacks Rank, and is up 1.38% to $36.75 per share in trading shortly after its earnings report was released.
Whole Foods:
Matched earnings estimates. The company reported diluted earnings of 37 cents per share, matching the Zacks Consensus Estimate of 37 cents per share. This number excludes 6 cents from non-recurring items.
Matched revenue estimates. The company saw revenue figures of $3.7 billion, matching our consensus estimate of $3.73 billion and increasing year-over-year
For Q2, Whole Foods reported a comparable store sales decrease of 2.8%, primarily due to an estimated negative impact of 30 basis points from Easter shifting from the second quarter of last year to the third quarter of this year.
Gross margin declined 82 basis points to 34.1%, mostly driven by increases in occupancy costs and cost of goods sold as a percentage of sales.
Whole Foods also announced a new business plan with the goal to provide shareholder value. These goals include:
- Speed up Affinity program rollout by calendar year (CYE) 2017
- Restructure purchasing program by CYE 2017
- Implement category management across all U.S. stores by fiscal 2018
- Return to positive comps and earnings growth by fiscal 2018
- Realize $300 million in additional cost savings by fiscal 2020
Looking ahead to fiscal 2017, Whole Foods expects sales growth of 1% or greater, comps of roughly -2.5% or better, diluted EPS of $1.30 or greater, and EBITDA margin of approximately 8%.
Here’s a graph that looks at Whole Foods’ price, consensus, and EPS surprise:
Whole Foods Market is the largest purveyor of natural foods in the world. They own and operate the country's largest chain of natural food supermarkets. They are like an old-fashioned neighborhood grocery store, an organic farmer's market, a European bakery, a New York deli, and a modern supermarket all rolled into one! The Company also offers a wide variety of non-perishable natural products on its Web site at http://wholefoods.com.
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Whole Foods Q2 Earnings In-Line, Debuts New Strategic Plan
Whole Foods Market just released its second quarter fiscal 2017 financial results, posting earnings, before non-recurring items, of 37 cents per share and revenues of $3.7 billion. Currently, WFM is a #4 (Sell) on the Zacks Rank, and is up 1.38% to $36.75 per share in trading shortly after its earnings report was released.
Whole Foods:
Matched earnings estimates. The company reported diluted earnings of 37 cents per share, matching the Zacks Consensus Estimate of 37 cents per share. This number excludes 6 cents from non-recurring items.
Matched revenue estimates. The company saw revenue figures of $3.7 billion, matching our consensus estimate of $3.73 billion and increasing year-over-year
For Q2, Whole Foods reported a comparable store sales decrease of 2.8%, primarily due to an estimated negative impact of 30 basis points from Easter shifting from the second quarter of last year to the third quarter of this year.
Gross margin declined 82 basis points to 34.1%, mostly driven by increases in occupancy costs and cost of goods sold as a percentage of sales.
Whole Foods also announced a new business plan with the goal to provide shareholder value. These goals include:
Looking ahead to fiscal 2017, Whole Foods expects sales growth of 1% or greater, comps of roughly -2.5% or better, diluted EPS of $1.30 or greater, and EBITDA margin of approximately 8%.
Here’s a graph that looks at Whole Foods’ price, consensus, and EPS surprise:
Whole Foods Market, Inc. Price, Consensus and EPS Surprise
Whole Foods Market, Inc. Price, Consensus and EPS Surprise | Whole Foods Market, Inc. Quote
Whole Foods Market is the largest purveyor of natural foods in the world. They own and operate the country's largest chain of natural food supermarkets. They are like an old-fashioned neighborhood grocery store, an organic farmer's market, a European bakery, a New York deli, and a modern supermarket all rolled into one! The Company also offers a wide variety of non-perishable natural products on its Web site at http://wholefoods.com.
More Stock News: 8 Companies Verge on Apple-Like Run
Did you miss Apple's 9x stock explosion after they launched their iPhone in 2007? Now, 2017 looks to be a pivotal year to get in on another emerging technology expected to rock the market. Demand could soar from almost nothing to $42 billion by 2025. Reports suggest it could save 10 million lives per decade, which could, in turn, save $200 billion in U.S. healthcare costs.
A bonus Zacks Special Report names this breakthrough and the 8 best stocks to exploit it. Like Apple in 2007, these companies are already strong and coiling for potential mega-gains. Click to see them right now >>