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AUSTIN, Texas - Leading organic and natural foods grocer Whole Foods Market Inc. on Tuesday reported a 20 percent jump in sales for the fourth quarter, driven by weighted average year-over-year square footage growth and stronger than expected comparable store sales growth of 10.5 percent.
Sales for the quarter were $638 million vs. $577 million in the prior year. Identical store sales (excluding three relocated stores) increased 9.6 percent.
The retailer said net income in the third quarter ended Sept. 29 rose to $22.0 million, or 36 cents a share, from $9.49 million, or 17 cents a share, a year earlier.
Sales for the fiscal year increased 21 percent to $2.7 billion from $2.3 billion in the prior year. Comparable store sales increased 10.0 percent and identical store sales increased 8.7 percent for the fiscal year.
Whole Foods has signed leases for new stores in Colorado Springs and San Francisco, as well as two sites in New York City in the areas of Union Square and Columbus Circle. The company currently has 19 stores in development, which average 41,000 square feet.