Whole Foods Market / Annual Report 2017
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Growth Strategy We are a Fortune 500 company, ranking number 214 on the 2015 list. Our sales have grown rapidly through strong comparable store sales growth, acquisitions and new store openings from approximately $93 million in fiscal year 1991, excluding the effect of pooling of interests transactions completed since 1991, to approximately $15.4 billion in fiscal year 2015, a 24-year compounded annual growth rate of approximately 24%. Our growth strategy is to expand primarily through new store openings, and while we may pursue acquisitions of smaller chains that provide access to desirable geographic areas and experienced team members, such acquisitions are not expected to significantly impact our future store growth or financial results. We have a disciplined, opportunistic real estate strategy, opening stores in existing trade areas as well as new areas, including international locations. We typically target premium real estate sites, and while new stores may be as small as 20,000 square feet or as large as 75,000 square feet, the majority fall in the range of 35,000 to 45,000 square feet. 365 by Whole Foods Market In fiscal year 2015, we announced plans to launch a second store format, 365 by Whole Foods Market, which we believe expands our growth opportunity to beyond 1,200 stores. The mission of 365 by Whole Foods Market is to bring fresh, healthy and affordable food to more people in more places every day. As a second growth vehicle, we expect these stores to complement the Whole Foods Market brand, allowing us to address the value—quality proposition in a new way—through a smaller footprint, curated product selection, convenience and technology–while maintaining the integrity of our brand in the marketplace.