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Whole Foods Invests In Value

May 8, 2013
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As Whole Foods Market reported same-store sales rising 6.3 percent in the fiscal second quarter from a year earlier, the company discussed investments it made in the period.

Investments in price brought value to the retailer sometimes referred to as Whole Paycheck.

“What we are trying to do is really try to get value to all customers,” President A.C. Gallo told analysts on a conference call, according to transcripts from Seeking Alpha. “We find that everybody likes a deal. So sometimes it’s a really low price, we have that everyday low value price on our Three Wishes Wine that we sell for $2.99. A certain wine customer likes to buy that. And then sometimes we just get a great deal on a bottle of wine that might sell for $20 and that customer feels like they are getting the deal, too.

“So I think our strategy is really one of trying to get value throughout all the different categories because everybody in every different category likes a deal.”

The company also discussed potential plans for a loyalty program. But CEO John Mackey said any program the company would do would be unique.

“It is something we are looking at, but we honestly don’t have anything to announce about it today,” Mackey said, according to the Seeking Alpha transcripts. “We wouldn’t do the kind of loyalty program that other traditional food retailers are doing. We are not too impressed with those type of programs. But we are looking at something that will have a unique Whole Foods Market flavor to it.”

“There's all the ducks around the pond in the room,” Co-CEO Walter Robb added. “All the ducks are very calm about the water but our feet are definitely paddling below the water but nothing to really show you.”

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