Two college dropouts borrowed money from family and friends to open a small business called Saferway in Texas. This occurred in 1978 by John Mackey and Renee Lawson (Hardy). In
1980 the two joined forces with Craig Weller and Mark Skiles and created Whole Foods Market.
Seven months later Texas got hit with the worst flood in history. Their stores inventory was destroyed and they had no insurance. The losses were approximately $400,000 ["Company
Info."]. The community came together and helped the business clean-up and reopen just 28 days after the flood destroyed the business. In 1984 they began expanding their business through-out Texas. They then expanded to other states by making deals with local farmers in each state. In 2002 they opened
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In 2015
Whole Foods financial performance was doing great in sales but lost net income compared to
2014. This is only because they opened 38 new stores and relocated 10 stores. Their costs of goods sold and occupancy costs were $9,973,000 and their sales were $15,389,000. The gross profit made for 2015 was $5,416,000 before income taxes. After taking away operating income
($861,000), investment of other income (17,000), administration expenses (4,472,000), pre- opening expenses (67,000), relocation (16,000) and income tax (342,000) their net income was
$536,000 ["Whole Foods Market Annual Reports."]. Whole Foods has been doing an amazing job keeping up with their financial performance and customer demands. The more customers who demand their business the more locations they open. This in return gives Whole Foods more revenue as each year passes. Whole Foods report its annual fiscal years on a 52 week basis. Whole Foods expectation for 2016 are 3-5% growth in sales. They are expecting to