Whole Foods Market
Whole Foods Market is a grocery chain that specializes in selling natural and organic products. The company was started in 1980 with a founding store in Austin, Texas. Whole food’s CEO is John Mackey. He is a cofounder in the business along with three other’s including his then girlfriend. Whole foods grew from SaferWay foods (Mackey’s first company) and Clarksville Natural Grocery (run by Mark Skiles and Craig Weller). The company lists its values as the following. * Selling highest quality Natural and Organic Products.
* Satisfying and Delighting its Customers.
* Supporting team member excellence and happiness.
* Creating wealth through profits and growth.
* Caring about communities and the environment.
* Creating ongoing win-win partnerships with their suppliers. * Promoting the health of its stakeholders through healthy eating education. The company has been an industry leader in the organic and natural foods market for the past twenty years. They increased sales by $77,708,000 from 2008 to 2009. The company became privately owned in January of 1992. The company’s growth the last thirty years has mostly come from acquisition of other grocery chains that specialize in natural and whole foods. SWOT ANALYSIS:
* Sizeable market share
* Strong cash flows in 08-09
* Ability to expand
* Low employee turnover due to good treatment of workers and solid wages and salaries for its employee’s * Good reputation for social responsibility and was voted in 2007 as one of North America’s top retailers. Weaknesses
* The company carries sizable debt (total debt equaling 734.1 million in 2009) * Reputation for aggressive policies of promoting its own in house brands. * Some controversy has been created over the companies failures at times to support farmers and suppliers. * Criticisms for not labeling genetically altered foods. (company...
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