Whole Foods Market has signed five new leases for the company’s 365 by Whole Foods Market chain, which are smaller, lower-priced stores compared to the much larger Whole Foods Market locations.
John Mackey, co-CEO and co-founder of Whole Foods Market calls the new chain “the future of where Whole Foods Market will be evolving”.
The Whole Foods CEO told investors in an earnings call that “Whole Foods Market is undergoing a very fundamental transformation. Some of it is beginning to show up, but we’ll see more of it in the next few quarters.”
Whole Foods will open its first store in Los Angeles in a little over four months. Other 365 by Whole Foods Market locations are scheduled to open in Texas, Oregon, California, among others. No locations have been scheduled to open in Canada as of yet. The company expects to have 10 stores open for business before October 2017.
