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2012 FINANCIAL DATA FOR SELECTED GROCERS
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Data are in $Millions
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INCOME STATEMENT
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Whole Foods
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Safeway
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Publix
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Kroger
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Sales
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11698
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44207
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27707
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96751
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Cost of Goods sold
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7543
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32487
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19911
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76858
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Gross profit
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4155
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11720
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7796
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19893
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Direct store expenses
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2983
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2280
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General & administration expenses
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372
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10616
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5631
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14849
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Pre-opening expenses
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47
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Relocation/termination/lease termination
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10
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Operating Income
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743
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1104
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2165
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2764
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Interest Expense/Income
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0.354
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304
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88
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462
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Investment and other income
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9
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28
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49
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Income before taxes
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752
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828
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2302
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2302
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Provision for taxes
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286
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262
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750
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794
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Net income
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466
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566
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1552
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1508
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BALANCE SHEET
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Current Assets:
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Cash and cash equivalents
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89
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352
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337
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1193
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Short-term investments
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1131
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797
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Restricted cash
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103
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Accounts receivable
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197
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909
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519
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1051
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Merchandise inventories
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374
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2562
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1409
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5146
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Prepaid expenses and other current assets
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77
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345
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29
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569
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Deferred income taxes
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132
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58
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Total current assets
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2103
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4168
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3149
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7959
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Property and equipment, net
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2193
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9225
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4691
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14875
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Long-term investments
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221
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192
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4236
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Goodwill
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663
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472
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1234
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Intangible assets, net
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62
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Deferred income taxes
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43
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Other assets
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9
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601
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203
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584
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Total Assets
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5294
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14658
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12279
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24652
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Current liabilities:
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Current installments of capital leases
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1
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36
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2734
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Accounts payable
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247
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3125
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1307
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4524
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Accrued payroll
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307
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461
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109
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977
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Deferred taxes
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46
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284
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Dividends payable
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26
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Other current liabilities
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396
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938
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804
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2538
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Total current liabilities
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977
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4606
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2220
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11057
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Long-term capital leases
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23
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412
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6145
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Long-term Debt
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4832
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153
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1145
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Deferred Taxes
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179
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327
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800
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Deferred retirement benefits
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|
915
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330
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1291
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Deferred lease liabilities
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441
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Other long-term liabilities
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51
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782
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118
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Total liabilities
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1492
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11726
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3148
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20438
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Retained earnings
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1233
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7610
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6641
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Total shareholder's equity
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3802
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2932
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9131
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4214
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Total liabilities and shareholder's equity
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5294
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14658
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12279
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24652
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Question: Use the data provided in the attached Excel spreadsheet to conduct a thorough financial analysis. You must use common-sized statements and ratios and your analysis must be both longitudinal and cross-sectional. Additionally, you should give compound annual growth rates for key categories (such as revenue, but you must decide which others will contribute to your understanding of the company). Use tables to display your results, but include a narrative to explain what your tables reveal.