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Whole Foods Co-CEO on Cutting Prices

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    Whole Foods Market Co-CEO Walter Robb on the company’s growth and the outlook for the economy.

  • Duration 4:02
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Tax hikes kicking hands spending slowing down so now -- foods tried to pump up business by bringing some prices down -- EO Walter process.

They're trying to reach a broader market won't -- -- have you.

Good afternoon are you nail on the armed bumped find you know as a whole food of markets up and you would not let -- -- -- about but I -- I would.

Argue is that.

Yeah you do pay a little bit more for your stuff -- not -- you smoke though but I think when you then I guess sorry and it it engaging in this.

Price cutting campaign do you lose a little bit of that cats today I and and is it reflected ultimately in.

In the products you sell and in no way giving ended these very real economic forces -- -- you're doing.

-- yourself.

But it's fair question I think -- what office stance for the marketplace I think you decrease quality we're been quality for 32 years and that's our role on our purpose in -- -- have fresh healthy quality for the marketplace and what we're talking about here keep that in perspective is.

The same sort of margins strategy we've talked about for the last -- quarters with justice to give -- the band with.

The -- room if you will to.

To continue to invest in price as we need to as the cup competition dictates so it's not a wholesale selling out -- that this estate.

It's -- continue refining and adjusting -- the marketplace dictates.

Not I don't know believes he loved her I can understand what's going on in and out of that marketplace and and consumers -- air resistance it.

You know premium prices on any -- But I'm wondering in the process.

What that is saying about our economy right now and whether you look look -- as pretty savvy read of what.

Folks want -- willing to pay or not day.

Part of what you're doing music knowledge you get that this economy is still.

I don't know for like about a were Dicey.

I think -- I think I would say it's I would characterizes -- -- I think it's a fair thing and we have.

Over six million customers coming through -- every week so I think we do a pretty good read.

And I think I think that's a fair statement I think the you know or this sort of our sales numbers this quarter well good.

You know -- a kind of reflection perhaps of the out of that environment.

What about this environment and and you know we talk a little earlier with with our guests at the outset about the big deals coming -- -- Wall Street.

Maybe despite or because of what's happening in Washington how much of what you do let -- foods is driven up by.

The noise in Washington -- you know a lot of folks taxes went up as they did if you include the then the Medicare taxes came back and all the -- how much is that drives what you do.

It dies and and it's not it's it's hard to read all that -- -- how do you ever correlated exactly but I think the it's mostly for us the customer confidence the customer the consumer.

Confidence that is where the correlation is and it.

And all these things -- -- factor in how people are feeling about the direction of the country but look.

That being said we got a business Iran and were excited about our business and if you look at this quarter you see the results that would deliver were terrific.

The growth is on track we're growing we're accelerating our square footage growth 89% in the 20142015.

And and were proving a return to shareholders.

So are you -- that gambled -- it says the economy was Bob dollar pointed out.

It is slowly recovering here or abroad that if it's not you know coming in gang -- fashion but it is in broad.

-- That's my view yes I do think you're gonna see sort of slow incremental progress the balance of 2013.

I think.

The back after the U looks a more promising because I'm hoping there's going to be some resolution.

But some of these questions out of Washington that you -- -- earlier.

You don't really think there will be to him.

-- there for the and -- do any of us know I I militias so perhaps is some of the week on a model through it but I think.

-- still an economy and it's happening after the still customers that are pursuing a fresh healthy lifestyle where there to serve them and we and I think that goes on.

All.

-- Walter Robb thank you very very much very -- seeing it.

Thanks for having appreciate it.

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