Whole Foods Inc. is launching a new chain of low-priced stores, and Portland will be one of the first cities to receive one of the 365 by Whole Foods locations
Whole Foods’ sales are at the worst point since the recession http://t.co/6XfjoonWyu pic.twitter.com/k47QhAFv4d
— Digital Journal (@digitaljournal) July 30, 2015
The Business Journal reports:
Austin, Texas-based Whole Foods (Nasdaq: WFM) — which has 20 stores in Colorado — said Wednesday that the first 365 store will open in the Silver Lake area of Los Angeles a little more than a year from now. Other stores will open soon after in the Seattle area; Santa Monica, Calif.; Portland and Houston.
The concept should help Whole Foods in its battle against smaller formats such as Trader Joe’s, which are popular with millennials. In fact, a small Trader Joe’s recently opened near Whole Foods’ large flagship store and headquarter office in downtown Austin.
In the coming years, Whole Foods will open 365 stores in Seattle, Los Angeles and Houston.
Whole Food executives are hoping the new store will extract new customers.