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Share Name | Share Symbol | Market | Type |
---|---|---|---|
Whole Foods Market, Inc. | NASDAQ:WFM | NASDAQ | Common Stock |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 41.99 | 42.05 | 42.00 | 0 | 01:00:00 |
x
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Quarterly report pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 for the quarterly period ended January 19, 2014; or
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o
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Transition report pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 for the transition period from __________ to __________.
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Texas
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74-1989366
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(State of
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(IRS employer
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incorporation)
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identification no.)
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Large accelerated filer
x
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Accelerated filer
o
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Non-accelerated filer
o
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Smaller reporting company
o
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(Do not check if a smaller reporting company)
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Page
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Assets
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January 19,
2014 |
|
September 29,
2013 |
||||
Current assets:
|
|
|
|
|
|
||
Cash and cash equivalents
|
$
|
271
|
|
|
$
|
290
|
|
Short-term investments - available-for-sale securities
|
771
|
|
|
733
|
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Restricted cash
|
111
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|
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111
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Accounts receivable
|
209
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|
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188
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||
Merchandise inventories
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454
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|
|
414
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|
||
Prepaid expenses and other current assets
|
109
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|
|
93
|
|
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Deferred income taxes
|
150
|
|
|
151
|
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Total current assets
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2,075
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1,980
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Property and equipment, net of accumulated depreciation and amortization
|
2,510
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2,428
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Long-term investments - available-for-sale securities
|
302
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|
|
302
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Goodwill
|
679
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679
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Intangible assets, net of accumulated amortization
|
66
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65
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Deferred income taxes
|
77
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72
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Other assets
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11
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|
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12
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Total assets
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$
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5,720
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$
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5,538
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||||
Liabilities and Shareholders’ Equity
|
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Current liabilities:
|
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|
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Current installments of capital lease obligations
|
$
|
1
|
|
|
$
|
1
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|
Accounts payable
|
277
|
|
|
247
|
|
||
Accrued payroll, bonus and other benefits due team members
|
384
|
|
|
367
|
|
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Dividends payable
|
45
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|
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37
|
|
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Other current liabilities
|
459
|
|
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436
|
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Total current liabilities
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1,166
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|
1,088
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Long-term capital lease obligations, less current installments
|
31
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26
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|
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Deferred lease liabilities
|
514
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|
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500
|
|
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Other long-term liabilities
|
46
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|
|
46
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|
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Total liabilities
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1,757
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|
1,660
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||
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||||
Commitments and contingencies
|
|
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Shareholders’ equity:
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Common stock, no par value, 600.0 shares authorized;
376.3 and 375.7 shares issued; 371.9 and 372.4 shares outstanding at 2014 and 2013, respectively |
2,804
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2,765
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Common stock in treasury, at cost, 4.4 and 3.3 shares at 2014 and 2013, respectively
|
(215
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)
|
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(153
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)
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Accumulated other comprehensive income (loss)
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(4
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)
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|
1
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Retained earnings
|
1,378
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1,265
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Total shareholders’ equity
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3,963
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|
|
3,878
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Total liabilities and shareholders’ equity
|
$
|
5,720
|
|
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$
|
5,538
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Sixteen weeks ended
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||||||
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January 19,
2014 |
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January 20,
2013 |
||||
Sales
|
$
|
4,239
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|
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$
|
3,856
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Cost of goods sold and occupancy costs
|
2,754
|
|
|
2,508
|
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Gross profit
|
1,485
|
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|
1,348
|
|
||
Direct store expenses
|
1,077
|
|
|
979
|
|
||
General and administrative expenses
|
132
|
|
|
116
|
|
||
Pre-opening expenses
|
16
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|
|
14
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Relocation, store closure and lease termination costs
|
5
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|
|
4
|
|
||
Operating income
|
255
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|
|
235
|
|
||
Investment and other income, net of interest expense
|
4
|
|
|
3
|
|
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Income before income taxes
|
259
|
|
|
238
|
|
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Provision for income taxes
|
101
|
|
|
92
|
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Net income
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$
|
158
|
|
|
$
|
146
|
|
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|
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Basic earnings per share
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$
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0.42
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$
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0.39
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Weighted average shares outstanding
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372.3
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370.8
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||
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||||
Diluted earnings per share
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$
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0.42
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$
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0.39
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Weighted average shares outstanding, diluted basis
|
375.8
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374.3
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|
||||
Dividends declared per common share
|
$
|
0.12
|
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|
$
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1.10
|
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Sixteen weeks ended
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||||||
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January 19,
2014 |
|
January 20,
2013 |
||||
Net income
|
$
|
158
|
|
|
$
|
146
|
|
Other comprehensive loss, net of tax:
|
|
|
|
||||
Foreign currency translation adjustments
|
(5
|
)
|
|
(2
|
)
|
||
Other comprehensive loss, net of tax
|
(5
|
)
|
|
(2
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)
|
||
Comprehensive income
|
$
|
153
|
|
|
$
|
144
|
|
|
Shares
outstanding
|
Common
stock
|
Common
stock in
treasury
|
Accumulated
other
comprehensive
income (loss)
|
Retained
earnings
|
Total
shareholders’
equity
|
|||||||||||
Balances at September 30, 2012
|
370.9
|
|
$
|
2,592
|
|
$
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(28
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)
|
$
|
5
|
|
$
|
1,233
|
|
$
|
3,802
|
|
Net income
|
—
|
|
—
|
|
—
|
|
—
|
|
551
|
|
551
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|
|||||
Other comprehensive loss, net of tax
|
—
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|
—
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—
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(4
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)
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—
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(4
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)
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|||||
Dividends ($1.40 per common share)
|
—
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|
—
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|
—
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—
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(519
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)
|
(519
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)
|
|||||
Issuance of common stock pursuant to team member stock plans
|
4.1
|
|
81
|
|
—
|
|
—
|
|
—
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|
81
|
|
|||||
Purchase of treasury stock
|
(2.6
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)
|
—
|
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(125
|
)
|
—
|
|
—
|
|
(125
|
)
|
|||||
Tax benefit related to exercise of team member stock options
|
—
|
|
36
|
|
—
|
|
—
|
|
—
|
|
36
|
|
|||||
Share-based payment expense
|
—
|
|
56
|
|
—
|
|
—
|
|
—
|
|
56
|
|
|||||
Balances at September 29, 2013
|
372.4
|
|
2,765
|
|
(153
|
)
|
1
|
|
1,265
|
|
3,878
|
|
|||||
Net income
|
—
|
|
—
|
|
—
|
|
—
|
|
158
|
|
158
|
|
|||||
Other comprehensive loss, net of tax
|
—
|
|
—
|
|
—
|
|
(5
|
)
|
—
|
|
(5
|
)
|
|||||
Dividends ($0.12 per common share)
|
—
|
|
—
|
|
—
|
|
—
|
|
(45
|
)
|
(45
|
)
|
|||||
Issuance of common stock pursuant to team member stock plans
|
0.6
|
|
16
|
|
—
|
|
—
|
|
—
|
|
16
|
|
|||||
Purchase of treasury stock
|
(1.1
|
)
|
—
|
|
(62
|
)
|
—
|
|
—
|
|
(62
|
)
|
|||||
Tax benefit related to exercise of team member stock options
|
—
|
|
5
|
|
—
|
|
—
|
|
—
|
|
5
|
|
|||||
Share-based payment expense
|
—
|
|
18
|
|
—
|
|
—
|
|
—
|
|
18
|
|
|||||
Balances at January 19, 2014
|
371.9
|
|
$
|
2,804
|
|
$
|
(215
|
)
|
$
|
(4
|
)
|
$
|
1,378
|
|
$
|
3,963
|
|
|
Sixteen weeks ended
|
||||||
|
January 19,
2014 |
|
January 20,
2013 |
||||
Cash flows from operating activities
|
|
|
|
|
|
||
Net income
|
$
|
158
|
|
|
$
|
146
|
|
Adjustments to reconcile net income to net cash provided by operating activities:
|
|
|
|
|
|
||
Depreciation and amortization
|
111
|
|
|
102
|
|
||
Share-based payment expense
|
18
|
|
|
17
|
|
||
Deferred income tax (benefit) expense
|
(4
|
)
|
|
6
|
|
||
Excess tax benefit related to exercise of team member stock options
|
(5
|
)
|
|
(4
|
)
|
||
Accretion of premium/discount on marketable securities
|
9
|
|
|
9
|
|
||
Deferred lease liabilities
|
11
|
|
|
16
|
|
||
Other
|
6
|
|
|
6
|
|
||
Net change in current assets and liabilities:
|
|
|
|
|
|
||
Accounts receivable
|
(15
|
)
|
|
17
|
|
||
Merchandise inventories
|
(40
|
)
|
|
(27
|
)
|
||
Prepaid expenses and other current assets
|
(16
|
)
|
|
(24
|
)
|
||
Accounts payable
|
31
|
|
|
(4
|
)
|
||
Accrued payroll, bonus and other benefits due team members
|
17
|
|
|
29
|
|
||
Other current liabilities
|
55
|
|
|
14
|
|
||
Net change in other long-term liabilities
|
1
|
|
|
—
|
|
||
Net cash provided by operating activities
|
337
|
|
|
303
|
|
||
Cash flows from investing activities
|
|
|
|
|
|
||
Development costs of new locations
|
(122
|
)
|
|
(96
|
)
|
||
Other property and equipment expenditures
|
(97
|
)
|
|
(59
|
)
|
||
Purchases of available-for-sale securities
|
(339
|
)
|
|
(366
|
)
|
||
Sales and maturities of available-for-sale securities
|
289
|
|
|
727
|
|
||
Increase in restricted cash
|
—
|
|
|
(9
|
)
|
||
Payment for purchase of acquired entities
|
—
|
|
|
(22
|
)
|
||
Other investing activities
|
(4
|
)
|
|
(5
|
)
|
||
Net cash (used in) provided by investing activities
|
(273
|
)
|
|
170
|
|
||
Cash flows from financing activities
|
|
|
|
|
|
||
Common stock dividends paid
|
(37
|
)
|
|
(397
|
)
|
||
Issuance of common stock
|
16
|
|
|
9
|
|
||
Purchase of treasury stock
|
(62
|
)
|
|
(26
|
)
|
||
Excess tax benefit related to exercise of team member stock options
|
5
|
|
|
4
|
|
||
Net cash used in financing activities
|
(78
|
)
|
|
(410
|
)
|
||
Effect of exchange rate changes on cash and cash equivalents
|
(5
|
)
|
|
—
|
|
||
Net change in cash and cash equivalents
|
(19
|
)
|
|
63
|
|
||
Cash and cash equivalents at beginning of period
|
290
|
|
|
89
|
|
||
Cash and cash equivalents at end of period
|
$
|
271
|
|
|
$
|
152
|
|
|
|
|
|
||||
Supplemental disclosure of cash flow information:
|
|
|
|
|
|
||
Federal and state income taxes paid
|
$
|
89
|
|
|
$
|
88
|
|
|
Sixteen weeks ended
|
||||
|
January 19,
2014 |
|
January 20,
2013 |
||
Sales:
|
|
|
|
||
United States
|
96.7
|
%
|
|
96.6
|
%
|
Canada and United Kingdom
|
3.3
|
|
|
3.4
|
|
Total sales
|
100.0
|
%
|
|
100.0
|
%
|
|
January 19,
2014 |
|
September 29,
2013 |
||
Long-lived assets, net:
|
|
|
|
|
|
United States
|
95.8
|
%
|
|
95.7
|
%
|
Canada and United Kingdom
|
4.2
|
|
|
4.3
|
|
Total long-lived assets, net
|
100.0
|
%
|
|
100.0
|
%
|
January 19, 2014
|
Level 1 Inputs
|
|
Level 2 Inputs
|
|
Level 3 Inputs
|
|
Total
|
||||||||
Cash equivalents:
|
|
|
|
|
|
|
|
||||||||
Money market fund
|
$
|
20
|
|
|
$
|
—
|
|
|
$
|
—
|
|
|
$
|
20
|
|
Commercial paper
|
—
|
|
|
93
|
|
|
—
|
|
|
93
|
|
||||
Marketable securities - available-for-sale:
|
|
|
|
|
|
|
|
||||||||
Commercial paper
|
—
|
|
|
110
|
|
|
—
|
|
|
110
|
|
||||
Corporate bonds
|
—
|
|
|
5
|
|
|
—
|
|
|
5
|
|
||||
Municipal bonds
|
—
|
|
|
941
|
|
|
—
|
|
|
941
|
|
||||
Variable rate demand notes
|
—
|
|
|
17
|
|
|
—
|
|
|
17
|
|
||||
Total
|
$
|
20
|
|
|
$
|
1,166
|
|
|
$
|
—
|
|
|
$
|
1,186
|
|
September 29, 2013
|
Level 1 Inputs
|
|
Level 2 Inputs
|
|
Level 3 Inputs
|
|
Total
|
||||||||
Cash equivalents:
|
|
|
|
|
|
|
|
||||||||
Money market fund
|
$
|
73
|
|
|
$
|
—
|
|
|
$
|
—
|
|
|
$
|
73
|
|
Commercial paper
|
—
|
|
|
104
|
|
|
—
|
|
|
104
|
|
||||
Municipal bonds
|
—
|
|
|
17
|
|
|
—
|
|
|
17
|
|
||||
Marketable securities - available-for-sale:
|
|
|
|
|
|
|
|
||||||||
Corporate bonds
|
—
|
|
|
5
|
|
|
—
|
|
|
5
|
|
||||
Municipal bonds
|
—
|
|
|
1,010
|
|
|
—
|
|
|
1,010
|
|
||||
Variable rate demand notes
|
—
|
|
|
20
|
|
|
—
|
|
|
20
|
|
||||
Total
|
$
|
73
|
|
|
$
|
1,156
|
|
|
$
|
—
|
|
|
$
|
1,229
|
|
|
January 19,
2014 |
|
September 29,
2013 |
||||
Short-term marketable securities - available-for-sale:
|
|
|
|
||||
Commercial paper
|
$
|
110
|
|
|
$
|
—
|
|
Municipal bonds
|
644
|
|
|
713
|
|
||
Variable rate demand notes
|
17
|
|
|
20
|
|
||
Total short-term marketable securities
|
$
|
771
|
|
|
$
|
733
|
|
Long-term marketable securities - available-for-sale:
|
|
|
|
||||
Corporate bonds
|
$
|
5
|
|
|
$
|
5
|
|
Municipal bonds
|
297
|
|
|
297
|
|
||
Total long-term marketable securities
|
$
|
302
|
|
|
$
|
302
|
|
|
January 19, 2014
|
|
September 29, 2013
|
||||||||||||
|
Gross carrying
amount
|
|
Accumulated
amortization
|
|
Gross carrying
amount
|
|
Accumulated
amortization
|
||||||||
Definite-lived contract-based
|
$
|
105
|
|
|
$
|
(42
|
)
|
|
$
|
102
|
|
|
$
|
(40
|
)
|
Definite-lived marketing-related and other
|
1
|
|
|
(1
|
)
|
|
1
|
|
|
(1
|
)
|
||||
Indefinite-lived contract-based
|
3
|
|
|
|
|
3
|
|
|
|
||||||
Total
|
$
|
109
|
|
|
$
|
(43
|
)
|
|
$
|
106
|
|
|
$
|
(41
|
)
|
|
January 19,
2014 |
|
September 29,
2013 |
||||
Beginning balance
|
$
|
36
|
|
|
$
|
41
|
|
Additions
|
1
|
|
|
5
|
|
||
Usage
|
(3
|
)
|
|
(11
|
)
|
||
Adjustments
|
3
|
|
|
1
|
|
||
Ending balance
|
$
|
37
|
|
|
$
|
36
|
|
Date of declaration
|
Dividend per
common share
|
|
Date of record
|
|
Date of payment
|
|
Total amount
|
||||
Fiscal year 2014:
|
|
|
|
|
|
|
|
||||
November 1, 2013
(1)
|
$
|
0.12
|
|
|
January 17, 2014
|
|
January 28, 2014
|
|
$
|
45
|
|
Fiscal year 2013:
|
|
|
|
|
|
|
|
||||
November 29, 2012
|
$
|
1.00
|
|
|
December 10, 2012
|
|
December 21, 2012
|
|
$
|
371
|
|
November 7, 2012
|
0.10
|
|
|
January 18, 2013
|
|
January 29, 2013
|
|
37
|
|
||
March 15, 2013
|
0.10
|
|
|
April 12, 2013
|
|
April 23, 2013
|
|
37
|
|
||
June 12, 2013
|
0.10
|
|
|
July 5, 2013
|
|
July 16, 2013
|
|
37
|
|
||
September 10, 2013
|
0.10
|
|
|
September 27, 2013
|
|
October 8, 2013
|
|
37
|
|
Authorization date
|
Expiration date
|
|
Amount authorized
|
|
Cost of repurchases
|
|
Authorization available
|
||||||
November 15, 2012
|
December 31, 2014
|
|
$
|
300
|
|
|
$
|
62
|
|
|
$
|
238
|
|
November 1, 2013
|
December 31, 2015
|
|
500
|
|
|
—
|
|
|
500
|
|
|||
|
|
|
$
|
800
|
|
|
$
|
62
|
|
|
$
|
738
|
|
|
Sixteen weeks ended
|
||||||
|
January 19,
2014 |
|
January 20,
2013 |
||||
Number of common shares acquired
|
1.1
|
|
|
0.5
|
|
||
Average price per common share acquired
|
$
|
56.06
|
|
|
$
|
46.04
|
|
Total cost of common shares acquired
|
$
|
62
|
|
|
$
|
26
|
|
|
Sixteen weeks ended
|
||||||
|
January 19,
2014 |
|
January 20,
2013 |
||||
Net income (numerator for basic and diluted earnings per share)
|
$
|
158
|
|
|
$
|
146
|
|
|
|
|
|
||||
Weighted average common shares outstanding
(denominator for basic earnings per share)
|
372.3
|
|
|
370.8
|
|
||
Potential common shares outstanding:
|
|
|
|
||||
Incremental shares from assumed exercise of stock options
|
3.5
|
|
|
3.5
|
|
||
Weighted average common shares outstanding and
potential additional common shares outstanding
(denominator for diluted earnings per share)
|
375.8
|
|
|
374.3
|
|
||
|
|
|
|
||||
Basic earnings per share
|
$
|
0.42
|
|
|
$
|
0.39
|
|
|
|
|
|
||||
Diluted earnings per share
|
$
|
0.42
|
|
|
$
|
0.39
|
|
|
Sixteen weeks ended
|
||||||
|
January 19,
2014 |
|
January 20,
2013 |
||||
Cost of goods sold and occupancy costs
|
$
|
1
|
|
|
$
|
1
|
|
Direct store expenses
|
10
|
|
|
9
|
|
||
General and administrative expenses
|
7
|
|
|
7
|
|
||
Share-based payment expense before income taxes
|
18
|
|
|
17
|
|
||
Income tax benefit
|
(7
|
)
|
|
(6
|
)
|
||
Net share-based payment expense
|
$
|
11
|
|
|
$
|
11
|
|
•
|
Average weekly sales totaled
$719,000
, translating to sales per square foot of
$983
;
|
•
|
Gross profit as a percentage of sales was
35.0%
, a record for the first quarter;
|
•
|
Operating income as a percentage of sales totaled
6.0%
;
|
•
|
EBITDA margin totaled
8.6%
; and
|
•
|
Return on invested capital (“ROIC”) was
13.3%
.
|
|
Sixteen weeks ended
January 19, 2014
|
|
Implied second through fourth quarter of
fiscal year 2014
|
|
Estimated
fiscal year 2014
|
Sales growth
|
9.9%
|
|
11% - 12%
|
|
11% - 12%
|
Comparable store sales growth
|
5.4%
|
|
5.5% - 6.5%
|
|
5.5% - 6.2%
|
General and administrative expenses as a percentage of sales
|
3.1%
|
|
3.1%
|
|
3.1%
|
Pre-opening and relocation expenses
|
$21 million
|
|
$54 - $57 million
|
|
$75 - $78 million
|
Diluted earnings per share
|
$0.42
|
|
$1.16 - $1.23
|
|
$1.58 - $1.65
|
Diluted earnings per share growth
|
7%
|
|
7% - 14%
|
|
7% - 12%
|
|
Sixteen weeks ended
|
||||
|
January 19,
2014 |
|
January 20,
2013 |
||
Sales
|
100.0
|
%
|
|
100.0
|
%
|
Cost of goods sold and occupancy costs
|
65.0
|
|
|
65.0
|
|
Gross profit
|
35.0
|
|
|
35.0
|
|
Direct store expenses
|
25.4
|
|
|
25.4
|
|
General and administrative expenses
|
3.1
|
|
|
3.0
|
|
Pre-opening expenses
|
0.4
|
|
|
0.4
|
|
Relocation, store closure and lease termination costs
|
0.1
|
|
|
0.1
|
|
Operating income
|
6.0
|
|
|
6.1
|
|
Investment and other income, net of interest expense
|
0.1
|
|
|
0.1
|
|
Income before income taxes
|
6.1
|
|
|
6.2
|
|
Provision for income taxes
|
2.4
|
|
|
2.4
|
|
Net income
|
3.7
|
%
|
|
3.8
|
%
|
|
Sixteen weeks ended
|
||||||
|
January 19,
2014 |
|
January 20,
2013 |
||||
Cost of goods sold and occupancy costs
|
$
|
1
|
|
|
$
|
1
|
|
Direct store expenses
|
10
|
|
|
9
|
|
||
General and administrative expenses
|
7
|
|
|
7
|
|
||
Share-based payment expense before income taxes
|
18
|
|
|
17
|
|
||
Income tax benefit
|
(7
|
)
|
|
(6
|
)
|
||
Net share-based payment expense
|
$
|
11
|
|
|
$
|
11
|
|
|
Sixteen weeks ended
|
||||
|
January 19,
2014 |
|
January 20,
2013 |
||
New stores
|
9
|
|
|
9
|
|
Relocated stores
|
1
|
|
|
1
|
|
|
Sixteen weeks ended
|
||||||
|
January 19,
2014 |
|
January 20,
2013 |
||||
Net income
|
$
|
158
|
|
|
$
|
146
|
|
Provision for income taxes
|
101
|
|
|
92
|
|
||
Investment and other income, net of interest expense
|
(4
|
)
|
|
(3
|
)
|
||
Operating income
|
255
|
|
|
235
|
|
||
Depreciation and amortization
|
111
|
|
|
102
|
|
||
EBITDA
|
$
|
366
|
|
|
$
|
337
|
|
|
|
|
|
||||
Sales
|
$
|
4,239
|
|
|
$
|
3,856
|
|
EBITDA margin
|
8.6%
|
|
|
8.7%
|
|
|
Sixteen weeks ended
|
||||||
|
January 19,
2014 |
|
January 20,
2013 |
||||
Net income
|
$
|
158
|
|
|
$
|
146
|
|
Interest expense, net of tax
|
—
|
|
|
—
|
|
||
Adjusted earnings
|
158
|
|
|
146
|
|
||
Total rent expense, net of tax
(1)
|
69
|
|
|
66
|
|
||
Estimated depreciation on capitalized operating leases, net of tax
(2)
|
(46
|
)
|
|
(44
|
)
|
||
Adjusted earnings, including interest related to operating leases
|
181
|
|
|
168
|
|
||
|
|
|
|
||||
Annualized adjusted earnings
|
$
|
513
|
|
|
$
|
475
|
|
Annualized adjusted earnings, including interest related to operating leases
|
$
|
588
|
|
|
$
|
547
|
|
|
|
|
|
||||
Average working capital, excluding current portion of long-term debt
|
$
|
901
|
|
|
$
|
973
|
|
Average property and equipment, net
|
2,378
|
|
|
2,146
|
|
||
Average other assets
|
1,100
|
|
|
993
|
|
||
Average other liabilities
|
(537
|
)
|
|
(480
|
)
|
||
Average invested capital
|
$
|
3,842
|
|
|
$
|
3,632
|
|
Average estimated asset base of capitalized operating leases
(3)
|
2,930
|
|
|
2,789
|
|
||
Average invested capital, adjusted for capitalization of operating leases
|
$
|
6,772
|
|
|
$
|
6,421
|
|
|
|
|
|
||||
ROIC
|
13.3%
|
|
|
13.1%
|
|
||
ROIC, adjusted for capitalization of operating leases
|
8.7%
|
|
|
8.5%
|
|
|
January 19,
2014 |
|
September 29,
2013 |
||||
Cash and cash equivalents
|
$
|
271
|
|
|
$
|
290
|
|
Short-term investments - available-for-sale securities
|
771
|
|
|
733
|
|
||
Total
|
$
|
1,042
|
|
|
$
|
1,023
|
|
|
Stores opened
during fiscal
year 2013
|
|
Stores opened
during fiscal
year 2014 as of
February 12, 2014
|
|
Properties
tendered as of
February 12, 2014
|
|
Total leases
signed as of
February 12, 2014
(1)
|
||||
Number of stores (including relocations)
|
32
|
|
|
12
|
|
|
26
|
|
|
107
|
|
Number of relocations
|
5
|
|
|
1
|
|
|
1
|
|
|
11
|
|
Percentage in new markets
|
31%
|
|
|
42%
|
|
|
35%
|
|
|
19%
|
|
Average store size (gross square feet)
|
36,000
|
|
|
39,000
|
|
|
40,000
|
|
|
39,000
|
|
Total square footage
|
1,137,000
|
|
|
467,000
|
|
|
1,034,000
|
|
|
4,208,000
|
|
Average tender period in months
|
8.7
|
|
|
|
|
|
|
|
|
|
|
Average pre-opening expense per store
|
$2 million
|
|
|
|
|
|
|
|
|
|
|
Average pre-opening rent per store
|
$1 million
|
|
|
|
|
|
|
|
|
|
|
|
Estimated
openings
|
|
Ending
store count
|
|
Ending gross
square footage
|
|
Ending square
footage growth
|
Fiscal year 2014
|
33 - 38
|
|
394 - 399
|
|
14.9 - 15.2 million
|
|
8% - 10%
|
Fiscal year 2015
|
38 - 45
|
|
429 - 439
|
|
16.3 - 16.8 million
|
|
9% - 11%
|
Date of declaration
|
Dividend per
common share
|
|
Date of record
|
|
Date of payment
|
|
Total amount
|
||||
Fiscal year 2014:
|
|
|
|
|
|
|
|
||||
November 1, 2013
(1)
|
$
|
0.12
|
|
|
January 17, 2014
|
|
January 28, 2014
|
|
$
|
45
|
|
Fiscal year 2013:
|
|
|
|
|
|
|
|
||||
November 29, 2012
|
$
|
1.00
|
|
|
December 10, 2012
|
|
December 21, 2012
|
|
$
|
371
|
|
November 7, 2012
|
0.10
|
|
|
January 18, 2013
|
|
January 29, 2013
|
|
37
|
|
||
March 15, 2013
|
0.10
|
|
|
April 12, 2013
|
|
April 23, 2013
|
|
37
|
|
||
June 12, 2013
|
0.10
|
|
|
July 5, 2013
|
|
July 16, 2013
|
|
37
|
|
||
September 10, 2013
|
0.10
|
|
|
September 27, 2013
|
|
October 8, 2013
|
|
37
|
|
Authorization date
|
Expiration date
|
|
Amount authorized
|
|
Cost of repurchases
|
|
Authorization available
|
||||||
November 15, 2012
|
December 31, 2014
|
|
$
|
300
|
|
|
$
|
62
|
|
|
$
|
238
|
|
November 1, 2013
|
December 31, 2015
|
|
500
|
|
|
—
|
|
|
500
|
|
|||
|
|
|
$
|
800
|
|
|
$
|
62
|
|
|
$
|
738
|
|
|
Number of common shares acquired
|
|
Average price per common share acquired
|
|
Total cost of common shares acquired
|
||||
Fiscal year 2014:
|
|
|
|
|
|
||||
First Quarter
|
1.1
|
|
$
|
56.06
|
|
|
$
|
62
|
|
Total fiscal year 2014
|
1.1
|
|
$
|
56.06
|
|
|
$
|
62
|
|
Fiscal year 2013:
|
|
|
|
|
|
||||
First Quarter
|
0.5
|
|
$
|
46.04
|
|
|
$
|
26
|
|
Second Quarter
|
0.9
|
|
43.46
|
|
|
37
|
|
||
Third Quarter
|
0.5
|
|
51.83
|
|
|
25
|
|
||
Fourth Quarter
|
0.7
|
|
55.36
|
|
|
37
|
|
||
Total fiscal year 2013
|
2.6
|
|
$
|
48.70
|
|
|
$
|
125
|
|
|
Total
|
|
Less than 1
year
|
|
1-3
years
|
|
3-5
years
|
|
More than 5
years
|
||||||||||
Capital lease obligations (including interest)
|
$
|
48
|
|
|
$
|
3
|
|
|
$
|
6
|
|
|
$
|
6
|
|
|
$
|
33
|
|
Operating lease obligations
(1)
|
7,624
|
|
|
367
|
|
|
864
|
|
|
906
|
|
|
5,487
|
|
|||||
Total
|
$
|
7,672
|
|
|
$
|
370
|
|
|
$
|
870
|
|
|
$
|
912
|
|
|
$
|
5,520
|
|
Period
(1)
|
Total number of shares purchased
|
|
Average price paid per share
|
|
Total number of shares purchased as part of publicly announced plans or programs
(2)
|
|
Approximate dollar value of shares that may yet be purchased under the plans or programs
(2)
|
|||||
September 30, 2013 - October 27, 2013
|
—
|
|
|
$
|
—
|
|
|
—
|
|
|
346,694,066
|
|
October 28, 2013 - November 24, 2013
|
629,202
|
|
|
$
|
58.80
|
|
|
629,202
|
|
|
763,000,066
|
|
November 25, 2013 - December 22, 2013
|
—
|
|
|
$
|
—
|
|
|
—
|
|
|
763,000,066
|
|
December 23, 2013 - January 19, 2014
|
476,778
|
|
|
$
|
52.44
|
|
|
476,778
|
|
|
738,000,104
|
|
Total
|
1,105,980
|
|
|
$
|
56.06
|
|
|
1,105,980
|
|
|
|
(1)
|
Periodic information is presented by reference to our fiscal periods during the
first
quarter of fiscal year
2014
.
|
(2)
|
On
November 2, 2011
, the Company’s Board of Directors authorized a share repurchase program in the amount of
$200 million
, of which approximately
$47 million
in remaining authorization expired on
November 1, 2013
. On November 15, 2012, the Company’s Board of Directors authorized a share repurchase program whereby the Company may repurchase an amount of outstanding shares of common stock of the Company up to an aggregate amount of
$300 million
through
December 31, 2014
. On November 1, 2013, the Company’s Board of Directors authorized a share repurchase program whereby the Company may repurchase an amount of outstanding shares of common stock of the Company up to an aggregate amount of
$500 million
through
December 31, 2015
. This repurchase program is in addition to, and does not supersede or modify, the Company’s previously authorized program. Under the repurchase programs, purchases can be made from time to time using a variety of methods, which may include open market purchases or purchases through a Rule 10b5-1 trading plan, all in accordance with Securities and Exchange Commission and other applicable legal requirements. The specific timing, price and size of purchases will depend on prevailing stock prices, general economic conditions and market conditions, and other considerations. The repurchase programs do not obligate the Company to acquire any particular amount of common stock and may be suspended or discontinued at any time at the Company’s discretion.
|
(1)
|
Filed herewith.
|
(2)
|
Furnished herewith.
|
|
|
|
WHOLE FOODS MARKET, INC.
|
|
|
|
|
|
|
Date:
|
February 21, 2014
|
|
By:
|
/s/ Glenda Flanagan
|
|
|
|
Glenda Flanagan
|
|
|
|
|
Executive Vice President and Chief Financial Officer
|
|
|
|
|
(Duly authorized officer and principal financial officer)
|
1 Year Whole Foods Market, Inc. Chart |
1 Month Whole Foods Market, Inc. Chart |
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