Whole Foods Market's CEO Presents at Deutsche Bank dbAccess Consumer, Retail, Gaming and Lodging Conference (Transcript)

Mar. 05, 2013 7:25 PM ETAmazon.com, Inc. (AMZN)
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Whole Foods Market, Inc. (WFM) Deutsche Bank dbAccess Consumer, Retail, Gaming and Lodging Conference Call March 5, 2013 1:05 PM ET


Walter Robb – Co-CEO

Cindy McCann – VP, IR


Shane Higgins – Deutsche Bank

Shane Higgins – Deutsche Bank

I guess we’ll get started. Good afternoon and welcome. I’m Shane Higgins. I’m the Senior Food and Retail Analyst here, at Deutsche. And it’s my pleasure to welcome Whole Foods’ Co-CEO, Walter Robb, and Global VP of Investor Relations, Cindy McCann.

Now, as many of you may know, Whole Foods was founded in Austin, Texas, back in 1980, by Co-CEO, John Mackey. Now, today, the company has over 340 stores in three countries, and they’re generating approximately just north of $12 billion in annual sales. And we continue to believe that the company’s long-term growth prospects remain very compelling, particularly given the rising demand for healthy eating.

And so the way we’ll do is I’ll – Walter and I would start kind of a conversation. We’ll talk. And then we’ll probably open it up for general questions in about 20 or 25 minutes or so.

So, Walter, your comps have averaged an impressive 8% over the last 10 years or so. And just taking a step back and looking at the bigger picture, what’s been happening over the last decade you believe that’s really driven increased interest in natural and organic foods and where do you see those trends heading over the next five or ten years?

Walter Robb

Yeah. I see those trends only getting bigger. I think that the opportunity for fresh and healthy foods, however you’re keeping it in the bottles, is huge. I think it’s broad, I think it’s wide, I think it’s deep, and I think it’s growing.

So the question is these – I

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