Wild Oats Markets Inc. today reported second-quarter earnings of $4.9 million or 16 cents per share, compared to $900,000 or 3 cents per share a year ago.
The Boulder-based natural foods retailer said net sales for the quarter increased 4.2 percent to $296.6 million. The company attributed the increase in sales to the opening of four new stores. Comparable store sales – or sales at stores that have been open for more than a year – were up 1.3 percent, which the company attributed to new competition and a shift in the timing of its promotional activity.
“While our same-store sales growth is not where it needs to be because of the short-term impact of new competition in several of our markets, we are working diligently to build on solid comparable store sales performance in markets unaffected by competition,” Wild Oats president and chief executive Perry Odak said in a statement issued by the company. “The new stores we’ve opened over the last year have continued to outperform sales expectations. And, as these new stores make up a larger percentage of our overall store base and we lap this competitive activity, we anticipate comparable store sales will improve over the long-term.”
The company raised its guidance for full-year earnings to 38 to 43 cents per share range. That was up from previous guidance of 34 to 40 cents per share.
The company, which operates stores under the Wild Oats Natural Marketplace, Henry’s Farmers Markets, Sun Harvest and Capers Community Markets banners, has 20 leases or letters of intents signed for new stores.
Staff writer Kristi Arellano can be reached at 303-820-1902 or karellano@denverpost.com.
