As a grocery store, Whole Foods has a very unique culture and mission. With its tight-knit Business to Consumer business model, Whole Foods seeks to supply its customers with all natural and organic foods. Whole Foods strives to maintain the highest quality standard the food industry provides. As said in an article from the Whole Foods Market website, Whole Foods is a mission driven company who will not let anything get in their way (Whole Foods Market IP LP, 2016). Because Whole Foods has a mission to provide such high quality foods, the choice of its suppliers is extremely important. An article from the Whole Foods website outlines some of their top suppliers from 2013. The supplier of the year in 2013 was Frontier Natural Products who
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Because their entire vision is built around all natural products, there is possibility of a scandal arising if its suppliers prove otherwise. Ana Sofia Knauf reported that Whole Foods is selling fish farmed by prisoners. Knauf says, according to Pacific Standards recent investigation, the Tilapia sold in Whole Foods may have come from a prison in Colorado. This brings an issue of labor costs into play, prisons have no protection of their labor rights therefore the labor is much cheaper than having a manufacturer farm fish. Whole Foods supposedly provides the highest quality of food to their customers who think they’re paying for just that. If the Tilapia being from a prison is true, then the cost of labor should have been put into consideration when pricing Whole Foods product (Knauf, Ana, …show more content…
According to NASDAQ, in 2013 Whole Foods brought in revenue equal to approximately $13 million, in 2014 revenue increased to about $14 million and finally in 2015 hit an all-time high of $15.4 million. On the contrary, net income hasn’t seen much of an increase or decrease. Over the span of 3 years Whole Foods net income has been relatively stable. In 2013, net income was $551,000. In 2014, it raised slightly to $579,000. And recently in 2015, it dropped to $536,000. This gradual decrease can most likely be credited to an increase in expenses on sales, advertising and general administrative expenses (WFM Financial Statements,
Because their entire vision is built around all natural products, there is possibility of a scandal arising if its suppliers prove otherwise. Ana Sofia Knauf reported that Whole Foods is selling fish farmed by prisoners. Knauf says, according to Pacific Standards recent investigation, the Tilapia sold in Whole Foods may have come from a prison in Colorado. This brings an issue of labor costs into play, prisons have no protection of their labor rights therefore the labor is much cheaper than having a manufacturer farm fish. Whole Foods supposedly provides the highest quality of food to their customers who think they’re paying for just that. If the Tilapia being from a prison is true, then the cost of labor should have been put into consideration when pricing Whole Foods product (Knauf, Ana, …show more content…
According to NASDAQ, in 2013 Whole Foods brought in revenue equal to approximately $13 million, in 2014 revenue increased to about $14 million and finally in 2015 hit an all-time high of $15.4 million. On the contrary, net income hasn’t seen much of an increase or decrease. Over the span of 3 years Whole Foods net income has been relatively stable. In 2013, net income was $551,000. In 2014, it raised slightly to $579,000. And recently in 2015, it dropped to $536,000. This gradual decrease can most likely be credited to an increase in expenses on sales, advertising and general administrative expenses (WFM Financial Statements,