Whole Foods locations will be increasing almost three-fold in the coming years. America's healthiest grocery store saw an 8% increase in sales in their third quarter, a record $3.6 billion. Strong cash flow and increased revenue have allowed room for this expansion. To start, Whole Foods has recently signed 8 new leases for both Whole Foods Market and the first opening of 365 by Whole Foods Market Stores, expected to hit the scene in 2016. 365 by Whole Foods is a new convenient and affordable way to get all the food you crave, 365 days a year. Grocery staples, fresh produce, prepared foods and more with the same quality standards as a typical Whole Food store.
"We are really excited about the progress we have made with securing real estate in markets where there is high demand for both quality food and value in a convenient format. We plan to open up to five 365 by Whole Foods stores in the second half of next year with the expectation of doubling the number of openings in 2017," said Jeff Turnas, president of 365 by Whole Foods.
Currently, the company has 424 stores, totaling 16 million square feet, and they expect to cross the 500 store mark in their 2017 fiscal year. Long-term demand should increase Whole Foods locations footprint to 1,200 stores in the United States, with the new 365 by Whole Foods store format leading the expansion.
"In this rapidly changing marketplace, we believe we are taking the necessary steps to position ourselves for the longer term," added Walter Robb, co-CEO. "We remain focused on innovating and evolving to best serve our customers' diverse purchasing preferences. From the unique experience of our Whole Foods Market stores, to our growing online channel for home delivery, to the exciting launch of our 365 by Whole Foods stores, we are making investments to extend our reach to both new and existing customers."
Keep up with all the latest by following Whole Foods Market on Twitter @WholeFoods and join in the conversation about 365 by Whole Foods Market locations by following #365Everyday.
