The uber-trendy organic bonanza Whole Foods, commonly referred to as Whole Paycheck, sure seems to be bringing in the big bucks. Those $4 grapefruits may suck for you, but between 2005 and 2009, the company's sales increased by 67.02%, from $1,649,105,000 to $2,745,310,000. The store's gross profits are actually in line with their sales, as they increased by 70.83% in the same time period, from $4,701,289,000 to $8,031,620,000. So even if Whole Foods does end up with your whole paycheck, at least it hasn't been taking more and more of it.
Like most companies, Whole Foods noted 2008 and being the big bad year for business, but their profit still increased by 17.86%- not bad considering the damage that occurred for other companies that drowned in recession.
John Mackey, the CEO of Whole Foods, apparently doesn't feel the need for a paycheck.
In 2007 his annual salary was $93,500, but according to the Proxy report he voluntarily reduced his salary in 2008 and 2009 to $1. But with Non Equity Incentive Plan Compensation and Option Rewards, Mackey still walked out the door in 2009 with $710,076 in his pocket.
Looks like Whole Foods is going to keep doing well as long as the organic only crowds keep up their crunchy chic shopping habits.
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Good. As you know, I love your witty writing style. GENERALLY, with a basic company analysis, you'd play it more straight. But i like your instinct to make things more interesting than they might be otherwise. One thing: when something is $8,031,620,000, you generally write $8 billion. For future reference. Amazing what profit margins they have. Usually supermarkets have razor thin margins.
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