Whole Foods a dining success
Most people probably don’t think of Whole Foods as a restaurant.
But plenty are using it that way, as the organic food giant is now second in take-out sales in the casual/fast casual dining segment, according to a stock research report from CIBC World Markets earlier this year.
The Austin, Texas-based chain’s nearly 200 stores racked up $450 million in prepared food sales in 2005. That surpassed all of the casual dining restaurants, such as Olive Garden and Outback, and all of the fast casuals, except Panera Bread. (Neither category includes traditional fast-food eateries like McDonald’s.)
The organic and natural foods industry is up to $25 billion-$30 billion in annual sales in the U.S. - about 5 percent of total food sales - with growth at double-digit rates, CIBC reported. And Whole Foods has been a prime beneficiary, with annual sales growth of 15-20 percent. Take-out offerings are an estimated 8-10 percent of sales, compared to 2 percent for the typical grocery store, CIBC reported. more…
