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Whole Foods Fraud

In: Business and Management

Submitted By boodeak
Words 3243
Pages 13
24 September 2012

Operations Whole Foods Market Inc. was established in Austin, Texas in 1980, and is “the world’s leader in natural and organic foods and America’s first national “Certified Organic” grocer with over 310 stores throughout North America and the United Kingdom” (Whole Foods, 2012). Whole Foods consists of one operating segment, natural and organic foods supermarkets. Whole Foods is the “largest retailer of natural and organic foods in the U.S. and the 10th largest food retailer overall based on 2010 sales rankings from Progressive Grocer” (Whole Foods, 2012). Over the last 3 years, Whole Foods has seen substantial growth in revenues from 8.0 billion in 2009, 9 billion in 2010 and 10.1 billion in 2011, and “from 2010 to 2011 this represents a 12.24% sales increase and a 39.37% increase to net income which was 342.61 million for year-end 2011” (Hoover’s Pro, 2012). Whole Foods offers a large selection of natural and organic products with the majority of sales being from perishable foods. Whole Foods “product selection includes, but is not limited to: produce, seafood, grocery, meat and poultry, bakery, prepared foods and catering, specialty (beer, wine and cheese), coffee and tea, nutritional supplements, vitamins, body care, educational products such as books, floral items, pet products and household product” (Whole Foods, 2012). Whole Foods also offers products under their primary store brand called “365 Everyday Value®, along with a grouping of “exclusive” and “control brand” products and their primary purpose is to help differentiate the product selection and provide more value offerings to the customers” (Whole Foods, 2012). Whole Foods also markets a wide array of “store-made and regionally made fresh items sold under the Whole Foods Market label, as well as offering specialty and organic coffee, tea and drinking chocolates...

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