Just about everybody knows Whole Foods’ commitment to healthy, quality foods. But did you also know….
- Their community giving well exceeds 5% of their total net profits each year.
- Whole Foods Market’s Local Producer Loan Program (LPLP) provides up to $10 million in low-interest loans to small, local producers.
- The mission of Whole Planet Foundation in partnership with Grameen Bank is to create economic partnerships through microcredit with the poor in communities that supply Whole Foods Market stores with products, with a focus on the developing world. As to date, these efforts have supported 33,000 clients, impacted 165,000 people, and loaned $9.8 million, 99% to women, 8.5 million in grants, with a 98.6 repayment rate. The innovation of microcredit has helped raise more people out of poverty than anything else.
- Several times a year, their stores hold community giving days (otherwise known as “5% Days”) where five percent of that day’s net sales are donated to a local nonprofit or educational organization.
Whole Foods is indeed a winning company. Sales for the quarter of FY 2010 increased 15% to $2.1 billion. Comparable and identical store sales increased 8.7%, or 7.7% and 6.4% on a two-year stacked basis, respectively. Year over year, earnings before interest, taxes, depreciation and amortization (“EBITDA”) increased 26% to $165.4 million, income available to common shareholders increased 101% to $57.5 million, and diluted earnings per share increased 63% to $0.33.
John Mackey, co-chief executive officer and co-founder of Whole Foods Market states, “We attribute much of our success to the progress we have made in our relative price positioning and to our initiatives in areas such as healthy eating, animal welfare and sustainable seafood. These initiatives are aligned with our core customer base and reinforce our position as the authentic retailer of natural and organic foods, further differentiating the Whole Foods Market shopping experience and making us the preferred choice for customers aspiring to a healthier lifestyle.”