Whole Foods Is Very Competitive: Co-CEO Robb

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Nov. 8 (Bloomberg) -- Whole Foods Market Co-CEO Walter Robb discusses the company's sales with Betty Liu on Bloomberg Television's "In The Loop." (Source: Bloomberg)

We are trying to understand what is going on.

What is going on exactly?

Hattie you know all of those things?

We had a pretty good quarter and a pretty good year for the country -- the company.

It seems to be an indication with jobs and the third quarter gdp numbers that there is momentum in the economy.

If there is, you would expect that whole foods would benefit from that.

I think we have benefited.

We have opened more stores in the quarter than we ever have any history of the company.

We have another 35 in the next year and another 40 after that.

You cut your fiscal year 2014 sales growth forecast.

Why did you do that?

What does that entail?

We have made a number of price investments.

We want to continue to sharpen our competitive edge.

We had cannibalization.

We had another of other factors.

No excuses.

When you moderate your sales outlook, it is responsible to adjust the earnings to fit that profile.

It is a pretty good uptake.

Earnings growth is 13% to 15%. this is the fourth consecutive year of improvement in operating margin.

The fundamentals are right there in place.

Is this going to change your strategy at all?

You have been opening more stores, but is this going to change your strategy on where you open them?

Absolutely not.

We opened two stores this past wednesday in san francisco and chicago.

We have another two teed up for next week.

We are full steam ahead.

We are a competitive company.

We make the adjustments we need to make and will move forward.

I want to bring up what some have said about where you are opening your stores.

It is understandable to open them in urban areas where premium priced products are more common and acceptable, but what about places you are planning like newark, new jersey, dayton , ohio.

These are smaller towns.

We believe we can support them in that area.

Look at the announcement last night, you mentioned the jobs report.

How about the trans fat report?

There is a linkage between that.

We do not even have any of those.

This idea that fresh, healthy diet is growing across every state.

Whole foods is going to be there to serve that need.

Do you expect a bump up in sales based on the fda ruling?

If you look at that thing with the apples.

That is the thing that happened when that came out.

It is one more thing, the straw on the camel's back idea.

People realize that using fresh, healthy foods is a good choice.

On a final note, there are reports out about whole foods lining up with google to possibly deliver groceries online to customers.

This is an area amazon is getting into.

You also have established companies like peapod and fresh direct.

Is this going to be a huge revenue stream for whole foods?

It is an option for our customers.

We are doing an experiment with google in the san francisco bay area.

They do the shopping and the delivery.

It is another way our customers can access whole foods along with the click and collect experience we are running ourselves.

We have a number of proof of concept ideas happening.

We are testing them simultaneously.

This customers going to want to be able to access their sore from a number of different points.

Thank you for joining us.

This text has been automatically generated. It may not be 100% accurate.


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