Whole Foods Market Announces $300 Million Increase in Stock Buyback
Increase Brings Total Authority to $471 Million, or Approximately 3% of Shares
AUSTIN, Texas, Nov. 20, 2012 (GLOBE NEWSWIRE) -- Whole Foods Market, Inc.
(Nasdaq:WFM) announced that its Board of Directors has approved an additional
$300 million of stock buyback authority through December 31, 2014. The Company
has approximately $171 million of authority remaining under its existing
program through November 1, 2013.The Company had approximately 185.5 million
shares outstanding as of November 16, 2012.The $471 million combined
authorization represents approximately three percent of shares outstanding at
the current stock price.
"With $1.3 billion in available cash, we are well positioned to maintain a
healthy cash reserve while internally funding our accelerated new store growth
plans," said Walter Robb, co-chief executive officer of Whole Foods Market.
"We recently announced a 43 percent increase in our quarterly dividend to
$0.20 per share and plan to create additional value for our shareholders
through utilization of our stock repurchase authority which now stands at $471
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 and market conditions, and
other considerations. The repurchase program does 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.
About Whole Foods Market
Founded in 1980 in Austin, Texas, Whole Foods Market
(www.wholefoodsmarket.com) is the leading retailer of natural and organic
foods and America's first national "Certified Organic" grocer.In fiscal year
2012, the Company had sales of approximately $12 billion and currently has 343
stores in the United States, Canada, and the United Kingdom.Whole Foods
Market employs over 70,000 Team Members and has been ranked for 15 consecutive
years as one of the "100 Best Companies to Work For" in America by Fortune
The Whole Foods Market, Inc. logo is available at
The following constitutes a "Safe Harbor" statement under the Private
Securities Litigation Reform Act of 1995. Except for the historical
information contained herein, the matters discussed in this press release are
forward-looking statements that involve risks and uncertainties, which could
cause our actual results to differ materially from those described in the
forward-looking statements. These risks include general business conditions,
changes in overall economic conditions that impact consumer spending,
including fuel prices and housing market trends, the impact of competition and
other risks detailed from time to time in the SEC reports of Whole Foods
Market, including Whole Foods Market's report on Form 10-K for the fiscal year
ended September 25, 2011. Whole Foods Market undertakes no obligation to
update forward-looking statements.
CONTACT: Cindy McCann
VP of Investor Relations
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