Whole Foods Posts 22 Percent Increase In Net Profit In First Half 2013

Whole Foods Market reported net profit increased 22 percent in the first half of 2013, pushed by higher sales and improved capital management. Sales rose 14 percent to $6.9 billion during the period, with comparable-store sales 7.1 percent higher and identical-store sales up by 6.8 percent. Co-CEO John Mackey said the retailer's strong sales performance highlighted the fact Whole Foods has performed better than the U.S. grocery market overall. The natural and organic retailer is lowering its prices to shift from its high-end market position and compete better with conventional supermarkets.