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Whole Foods Copes with Recession Cutting Losses - 12/07/2010
 

Whole Foods Market narrowed its UK pre tax losses

1.  Whole Foods Market narrowed its UK pre tax losses by more than £30 million in 2009, despite the downturn, and even though sales fell by more than 11% to £43m.

2.  The UK arm of the US concern reported a loss of £4.3m for the year ending 27/09/09 – down by £35.9m for the previous year. The company attributed continuing operation losses to the challenging retail environment and said a store closure in Q4 2008 contributed to the overall decline in volume. “Changes to merchandizing, product mix and pricing would help drive improvements in its financial results,” it claimed.

3.  The company said it was pursuing expansion opportunities in greater London, “despite the difficult real estate climate”. It is also understood to be seeking sites outside the capital and is thought to be close to securing a site near Glasgow, according to the Grocer (10 July 2010).

4.  Whole Foods opened its 80,000 sq ft store in Kensington High Street in June 2007. It met complaints for its lack of car parking and a costly seafood counter and Champagne and Oyster Bar, which were subsequently scrapped.

 
 
 

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