|Thursday, May 12, 2005|
Compassion is Good Business
Last week, Whole Foods Markets announced that they would no longer purchase Canadian seafood until Canada puts an end to the annual slaughter of baby harp seals.
Whole Foods Markets is the largest company to date to sign on to the boycott.
This is a company that makes solid ethical choices for its customers.
Captain Paul Watson and his wife Allison have been patrons of Whole Foods for years. "We shop for organic and vegan foods, and Whole Foods provides us with the products that we need and a clear conscience that we are shopping at a place that sincerely cares for this planet and the future," said Captain Watson.
And from a business point of view, this ethical approach to providing national services to the public has paid off.
On May 11th, shares of Whole Foods Markets Inc, reached an all-time high at $110.63, up $1.25 or 1.2%. The organic and natural food chain reported a 22% increase in profits.
We believe that the decision to support the seafood boycott of Canada on behalf of the seals contributed to this. In the last two weeks since the announcement of the boycott, Whole Foods shares have risen 13%
Other food distribution companies, restaurants and hotels may wish to consider the possibilities for increasing profits by supporting compassion.
"More and more people are beginning to care about where their food comes from and about the ecological consequences of their buying actions," said Captain Watson. "People want choices and are actively looking for companies that allow the opportunities for choosing an ethical lifestyle. Whole Foods Markets is a leader in providing an ethical choice for consumers."