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1980 ( Austin, Texas )
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Austin, Texas
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- John Mackey , CEO <br/> -Glenda Chamberlain, Executive Vice President and CFO <br/> -AC Gallo, Co-President and Chief Operating Officer <br/> -Walter Rob, Co-President and Chief Operating Officer <br/> -Jim Sud, Executive Vice President of Growth and Business Development <br/> -Lee Valkenaar, Executive Vice President of Global Support
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41,500 Whole Foods Market® Soars to Number 5 Spot on FORTUNE's "100 Best Companies to Work For" List , Whole Foods Market, January 9, 2007
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Grocery Store , Health Food Store
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$56 billion USD (2006) Whole Foods Market Announces Fourth Quarter Results (PDF) , Whole Foods Market, November 2, 2006
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() is an ,
Canada , and the
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Whole Foods Market is a food retailer of natural and organic products including produce, seafood, grocery, meat and poultry, bakery, prepared foods and catering, beer, wine, cheese, whole body, floral, pet products and household products. The company also sells a selection of conventional national brands.
Company profile , Reuters.com The company is consistently ranked among the most socially responsible businesses.
How Boss's Deeds Buff a Firm's Reputation , ''The Wall Street Journal'', January 31, 2007.
In 1978, twenty-five-year-old college dropout
John Mackey and Rene Lawson, his twenty-one-year-old girlfriend, borrowed $45,000 from family and friends to open the doors of a small natural foods store called SaferWay in
Austin, Texas (the name being a spoof of
Safeway , which operated stores under their own name in Austin at that time). When the couple got booted out of their apartment for storing food products there, they decided to simply live at the store. Since it was zoned commercial, there was no shower stall. Instead, they bathed in the Hobart dishwasher, which had an attached water hose.
John Mackey ''Texas Monthly'', March 2005.
Run, Gun, and Have Fun — Whole Foods Market Style Brand Autopsy, March 21, 2005.
John Mackey on Whole Foods' Growth Marketplace, February 26, 2007.
Two years later, John Mackey partnered with Craig Weller and Mark Skiles to merge SaferWay with their Clarksville Natural Grocery, resulting in the opening of the original Whole Foods Market on September 20, 1980. At 12,500 square feet and a staff of 19, this store was quite large in comparison to the standard health food store of the time.
History of Whole Foods Market , Whole Foods Market. Last accessed February 26, 2007.
Less than a year later, on Memorial Day in 1981, the worst flood in 70 years devastated the city of Austin. Caught in the flood waters, the store’s inventory was wiped out and most of the equipment was damaged. The losses were approximately $400,000 and Whole Foods Market had no insurance. Customers and neighbors voluntarily joined the staff to repair and clean up the damage. Creditors, vendors and investors all provided breathing room for the store to get back on its feet and it re-opened only 28 days after the flood.
in
New York City ]]
Beginning in 1984, Whole Foods began its expansion out of Austin, first to , in 1999.
The company started its third decade with additional acquisitions of Food for Thought in Northern California and Harry’s Farmers Market stores in
Atlanta . In 2001, Whole Foods moved into
Manhattan , generating interest from the media and financial industries. The year 2002 saw Whole Foods expand outside the United States when a store was opened in
Toronto, Canada . Continuing its expansion, Select Fish of Seattle was acquired in 2003. In 2005, Whole Foods opened its 80,000-square-foot flagship store in downtown Austin. The company's headquarters moved into the offices above the store.
Whole Foods' expansion has increased the need for products and processing plants. To help fuel this demand, the company added its 365 Everyday Value product line and purchased Allegro Coffee Company in 1997; and a seafood processing plant was opened in Atlanta in 2003, the same year Whole Foods became United States' first national "certified organic" grocer.
In 2004, Whole Foods entered the , West London. According to company executives, as many as forty stores may eventually be opened throughout the United Kingdom.
Whole Foods’ British Invasion “Austin American Statesman'', May 27, 2007.
On
February 21 2007 , Whole Foods Market, Inc. and
Wild Oats Markets Inc. announced the signing of a definitive merger agreement under which Whole Foods Market, Inc. would acquire Wild Oats Markets Inc.’s outstanding common stock in a cash tender offer of $18.50 per share, or approximately $565 million based on fully diluted shares. Under the agreement, Whole Foods Market, Inc. would also assume Wild Oats Markets Inc.'s existing net debt totaling approximately $106 million as reported on September 30, 2006.
Whole Foods to acquire Wild Oats , ''Austin Business Journal'', February 22, 2007.
Whole Foods to buy Wild Oats rival , ''Austin American-Statesman'', February 22, 2007.
For Whole Foods, a natural decision , ''Austin American-Statesman'', February 23, 2007.
On investment message board, raising serious legal and ethical questions.
On based Smart & Final Inc. That deal is expected to close in late September 2007.
Whole Foods closes Wild Oats acquisition , ''CNNMoney.com'', August 28, 2007
The online postings of Whole Foods Market's CEO, John Mackey, have become the subject of an informal inquiry by the
Securities And Exchange Commission , according to the Wall Street Journal, citing people familiar with the matter. John Mackey posted numerous messages on a Yahoo financial forum under the user name "rahodeb," according to a court document filed by the U.S. Federal Trade Commission and postings on Yahoo. The postings came to light during an FTC investigation of Whole Foods' planned takeover of Wild Oats Markets Wild Oats Markets Inc. Mackey's messages painted a bright future for Whole Foods Market Inc., the largest U.S. natural and organic grocer, and downplayed the threat posed by competitors. While it isn’t clear that Mr. Mackey violated any laws in his posting, they have raised numerous legal questions, the Journal reported. The newspaper also reported the SEC is likely to examine whether Mr. Mackey’s comments contradicted what the company previously said or were overly optimistic about the firm’s performance. In addition, the SEC will likely look at whether the CEO selectively disclosed material corporate information, which could violate a securities law passed in 2000, known as Regulation Fair Disclosure, which was designed to prevent executives from sharing information with favored clients or analysts. Whole Foods didn’t immediately return calls seeking comment.
On Tuesday, July 17, 2007, Whole Foods Market Inc. said its board has formed an independent committee to investigate the postings made on financial message boards by Chairman and Chief Executive Officer John Mackey. The committee has retained Munger, Tolles & Olson LLP to assist it with the investigation, the Austin, Texas-based company said today in a statement distributed by PR Newswire. The company also said it has been contacted by the U.S. Securities and Exchange Commission, which is conducting its own inquiry into Mackey's posts.
- January 1992: Whole Foods goes public, trading shares on the Nasdaq Stock Market as WFMI.
- November 1993: WFMI stock splits 2 for 1.
- June 2001: WFMI stock splits 2 for 1.
- October 2001: Moody's upgrades WFMI debt ratings.
- May 2002: WFMI added to S&P MidCap 400 Index.
- December 2002: WFMI added to the NASDAQ-100 Index.
- January 2004: Whole Foods Market paid its first dividend ever, 15 cents on each share of the company's stock.
- November 2004: Board of Directors approves 27 percent increase in quarterly dividend to $0.19 per share.
- March 2005: WFMI joins the ranks of the Fortune 500 , entering the list for the first time at No. 479. Fortune 500 (2006) — Whole Foods Market , CNNMoney.com
- April 2005: Board of Directors approves 32 percent increase in quarterly dividend to $0.25 per share.
- November 2005: Board of Directors approves 20 percent increase in quarterly dividend to $0.30 per share and announces special $4.00-per-share dividend.
- December 2005: Whole Foods Market stock splits 2 for 1, the third stock split in the company’s history.
- November 2006: The company's salary cap was raised from 14 times the average pay of a full-time worker to 19 times the average pay. This is up from the original eight-times cap that was set in the late 80’s. Whole Foods Market Announces Changes in Salary Cap and CEO Compensation , Whole Foods Market, November 2, 2006. Additionally, the company announced that CEO John Mackey will receive a salary of one dollar (started January 1, 2007), and will forgo any future stock option awards.
- November 2006: Whole Foods Market's stock dropped 18 percent after the company lowered its 2007 sales forecasts. Whole Foods Shares Plunge After 2007 Forecast Cut , Bloomberg.com, November 3, 2006.
- August 2007: A federal judge cleared the way for Whole Foods to merge with its rival Wild Oats Markets Inc., discounting recent arguments that the reduced competition would lead to higher prices.
While there is no FDA or USDA specific definition of natural foods, Whole Foods Market only sells products that meet their definition of natural: minimally processed foods that are free of hydrogenated fats as well as animals or their offspring, even though the FDA has ruled them safe to eat.
Whole Foods won't sell meat from clones , ''Austin American-Statesman'', February 14, 2007.
Cloned Meat Q&A , Whole Foods Market, Last accessed February 17, 2007.
Whole Foods has been criticized that its products may not be as progressive as they are touted to be. Author
Michael Pollan has contended that the supermarket chain has done well in expanding the organic market, but has done so at the cost of
Local Foods , regional producers, and distributors.
Paradise Sold , ''The New Yorker'', May 15, 2006. Parts of the debate have taken place publicly through a series of letters between Pollan and Whole Foods CEO John Mackey.
The CEO's Blog — John Mackey , Whole Foods Market
Ronnie Cummins, national director of the United States
Organic Consumers Association said Whole Foods simply uses the term "natural" as a marketing tool.
Too good to be true? , Mesure, Susie. ''The Independent'', September 14, 2006. Whole Foods Market’s website details the company’s quality standards to provide clarity to customers about their criteria for selling food, dietary supplements, and personal care products.
Whole Foods Market purchases products for retail sale from local, regional and international wholesale suppliers and vendors. The majority of purchasing occurs at the regional and national levels in order to negotiate volume discounts with major vendors and distributors. Regional and store buyers are focused on local products and any unique products necessary to ensure a neighborhood market feel in the stores. Whole Foods says they are committed to buying from local producers that meet their quality standards while also increasingly focusing more of their purchasing on producer- and manufacture-direct programs.
Whole Foods Market 2006 Annual Report Whole Foods Market, last accessed March 28, 2007. The company has several full-time employees whose sole duty is to source local products in different regions of the country.
In April, 2007, Whole Foods Market launched the Whole Trade Guarantee, a purchasing initiative emphasizing ethics and social responsibility concerning products imported from the developing world. The criteria include fair prices for crops, environmentally sound practices, better wages and labor conditions for workers and premium product quality. Whole Foods will work with
TransFair USA and the
Rainforest Alliance to ensure the transparency and integrity of the program. One percent of proceeds from Whole Trade certified products will go to the Whole Planet Foundation to support micro-loan programs in developing countries. The company’s goal is to have at least half of its imported products from these countries fully certified within ten years.
Fair's Fair at Whole Foods The Motley Fool, April 2, 2007.
Whole Foods to Certify Sustainable Products California Green Solutions, March 30, 2007.
In 1985, Whole Foods Market created their “Declaration of Interdependence,” which emphasizes a
Stakeholder philosophy.
Hitting the Organic Jackpot ''The Boston Globe'', March 16, 2003. (archive fee required)
Declaration of Interdependence Whole Foods Market, last accessed March 27, 2007. Walter Robb, Whole Foods Market co-President, details the company's core values: "The deepest core of Whole Foods, the heartbeat, if you will, is this mission, this stakeholder philosophy: customers first, then team members, balanced with what’s good for other stakeholders, such as shareholders, vendors, the community, and the environment. If I put our mission in simple terms, it would be, No. 1, to change the way the world eats, and No. 2, to create a workplace based on love and respect. We believe business should meet the needs of all the stakeholders, as opposed to operating it for shareholders."
One on One, Whole Foods' Second Banana on Being Green , ''Corporate Board Member'', January/February 2007. (Registration required) CEO John Mackey describes how the stakeholder philosophy combines with capitalism: "We've always been unique in that we have a stakeholder philosophy, and it continues to guide us," Mackey says. "The beauty, in my opinion, of capitalism is that it has a harmony of interests. All these stakeholders are important. It is important that the owners and workers cooperate together to provide value for the customer. That's what all business is about, and I'd say that's a beautiful thing." ''
In May 1999, Whole Foods Market joined the
Marine Stewardship Council (MSC), a global independent, not-for-profit organization promoting sustainable fisheries and responsible fishing practices world-wide to help preserve fish stocks for future generations.
Whole Foods Market Continues Commitment to Seafood Sustainability by Offering Marine Stewardship Council-certified Halibut , Marine Stewardship Council, May 4, 2006. Whole Foods Market was one of the first American companies to partner with the Marine Stewardship Council and continues to actively support their efforts in ensuring the sustainability of the oceans. The company first began selling MSC-certified seafood in 2000, and a growing selection of MSC-certified fish continues to be available.
Whole Foods Market Introduces Certified Sustainable Seafood , Whole Foods Market, Inc., March 8, 2000.
In 2006, Whole Foods Market became the only Fortune 500 company to offset 100 percent of its energy cost with the purchase of (EPA) report listed Whole Foods Market as the second-highest purchaser of green power nationwide, citing their actions as helping drive the development of new renewable energy sources for electricity generation. The EPA report showed Whole Foods Market using 463.1 million kilowatt hours annually to cover 100 percent of their total electricity from biomass, geothermal, small-hydro, solar and wind sources.
EPA Top 25 Partners in the Green Power Partnership , Environmental Protection Agency, January 8, 2007.
In 2002,
People For The Ethical Treatment Of Animals (PETA) began petitioning Whole Foods to take steps to ensure the improvement of treatment of animals sold in the stores. As of June 2003, Whole Foods had declined to respond. In June 2003, members of PETA gathered in front of Whole Foods headquarters in Austin, Texas, to protest the company’s practice of purchasing duck meat in which the workers chop off the end of the duck’s bill to keep it from mutilating other ducks.
Animal Activists to Protest Whole Foods Market , Viva! USA, March 28, 2003.
Whole Foods created the Animal Compassion Foundation in January 2005, a separate nonprofit organization, to help other producers evolve their practices to raise animals naturally and humanely. According to Whole Foods Natural Meat Quality Standards and Animal Compassionate Standards, pulling feathers from live ducks, bill trimming, bill heat treatment, toe punching, slitting the webs of the feet, and toe removal are all prohibited in the raising of ducks for Whole Foods Market. Any ducks treated in this manner, treated with antibiotics or antimicrobials, cloned, genetically modified, or not allowed medical treatment when necessary are to be removed from Whole Foods Market stock.
Farm Animal and Meat Quality Standards Program Requirements , Whole Foods Market, Last accessed January 16, 2007.
Whole Foods announced in June 2006 that it would stop selling live
Lobsters and
Crabs but made an exception in February 2007 for a new
Portland, Maine , store that is able to meet humane standards. The lobsters will be kept in private compartments instead of being piled on top of one another in a tank, and employees will use a device that zaps them with a 110-volt shock so they are not boiled alive in a pot of water. Whole Foods will not be selling live lobsters at its other stores because they are not close enough to the lobster grounds.
Whole Foods allows lobster sales in Maine , ''Austin American-Statesman'', February 8, 2007. This decision has been criticized by some as damaging an important New England tradition and as removing people's connection to where their food actually comes from.Corson, Trevor.
Boiling Point , ''Boston Magazine'', July 2006. Last retrieved February 12, 2007.
Whole Foods Market commits to a policy of donating at least five percent of their annual net profits to charitable causes. These donations are accomplished in multiple ways. Each store has the authority to donate food, labor or dollars to local not-for-profit organizations. Individual stores also hold 5% Days approximately four times a year where they donate 5% of that day's net sales to a local or regional non-profit or educational organization.
In 2005, the company created two foundations designed to effect solutions to global problems. The Animal Compassion Foundation strives to improve the quality of life for farm animals and the Whole Planet Foundation works to combat poverty in rural communities around the world through
Microlending .
Community Giving , Whole Foods Market, Inc., Last accessed February 12, 2007. In 2006, the company announced that it would be providing $10 million a year in low-interest loans to local producers.
John Mackey's Blog , Whole Foods Market, Inc., June 26, 2006. The
Local Producer Loan Program provided its first loan in February 2007.
at the flagship Whole Foods in Austin, Texas]]
In January 2004, in California, the
Environmental Working Group and the Center for Environmental Health presented a notice of intent to file an anti-toxin lawsuit against salmon producers. This was in large part due to Whole Foods' involvement, including highlighting companies' failure to warn consumers the fish contained potentially dangerous levels of cancer causing chemicals known as PCBs.
Environmental Issues . KnowMore.org.
(BPA), found in products such as baby bottles and children’s cups, are controversial. While most manufacturers have dismissed the claims and have continued to use BPA, Whole Foods no longer sells baby bottles and children’s cups made with BPA.
Issues & Actions: Food Safety: Bisphenol-A , Whole Foods Market.
In the wake of concern over the safety of seafood imports from China, on July 10, 2007 the Washington Post reported that Whole Foods imports 2% of its seafood from China. A Whole Foods Spokeswoman is quoted as saying "We're not concerned about the less than 2 percent. It's business as usual for us."
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- CEO John Mackey was named to Barron's list of the world's best CEOs, which recognizes 30 top corporate leaders who excel in not only profit growth and stock-price gains but also leadership strength and industry stature. The World's Best CEOs ''Barron's'', March 26, 2007.
- The Environmental Protection Agency awarded Whole Foods Market its top honor of Green Power Partner of the Year for 2006. The company was also presented with the Green Power Leadership Award in 2004 and 2005. EPA-Green Power Partners , Environmental Protection Agency, last accessed March 23, 2007
- In the 2006 Harris Interactive/The Wall Street Journal ranking of the world's best and worst corporate reputations, Whole Foods placed 12th overall and received the best score of any company for social responsibility.
- Whole Foods was included in ''Corporate Responsibility Officer'' (CRO) magazine’s annual “100 Best Corporate Citizens” list for 2007, ranking No. 54 out of 1,100 U.S. public companies surveyed. 100 Best Corporate Citizens 2007 (PDF) , ''Corporate Responsibility Officer'', January/February 2007. The ranking is based on measures of corporate service to eight groups: shareholders, community, governance, diversity, employees, environment, human rights and product.
- ''Supermarket News'' ranked Whole Foods No. 23 in the 2007 "Top 75 North American Food Retailers" based on 2006 fiscal year sales of $5.6 billion. 2007 Top 75 North American Food Retailers , ''Supermarket News'', Last accessed February 24, 2007.
- CEO John Mackey was named the 2003 Overall National Ernst & Young Entrepreneur Of The Year. Ernst & Young Hall of Fame , Ernst & Young, Last accessed March 23, 2007
- Whole Foods was named 'World's Greatest Food Retailer' by the British trade magazine '' The Grocer '' in 2006. Booths Press Release , last accessed May 8th, 2007
Among its primary values, the company lists "supporting team member happiness and excellence."
Core Values , Whole Foods Market The company argues that its treatment of workers obviates the needs for unions: full-time workers are given free health insurance that includes a personal wellness account, and the starting pay at most stores is highly competitive.
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CEO John Mackey, a Whole Foods despite rallying there for seven years.
Union Backers to Hold Protest at Farmer Joe’s , ''Contra Costa Times'', January 26, 2007.
Whole Foods was criticized for its refusal to support a campaign by the
United Farm Workers (UFW) on behalf of agricultural workers laboring on strawberry farms.
Whole Foods Plays Dirty , Oritz, Paul. ''The Prism'', May 1998. During the late 1990's, the UFW persuaded several large supermarket chains to sign a pledge in support of improved wages and working conditions for strawberry pickers. Whole Foods chose instead to support the farmworkers directly by holding a "National 5% Day" where five percent of that day's sales — $125,000 — were donated to organizations which provide social services to farmworkers.
Whole Foods Fight , ''Metro Santa Cruz'', September 3–9, 1998.
