UK: Whole Foods Market reports losses

The American superstore chain Whole Foods Market reported losses for Britain again. Three years after opening a flagship store in London and promising to revolutionise food shopping in Britain, the company lost 4.3 million £ (- 12 %) in Britain in the year to the end of September, The Guardian reports. Revenues had also been impacted by the closure of a store in Bristol, which had been heavily loss-making.

Those losses were substantially lower than the 35.9 million £ recorded in 2008. The company said it was pleased at the progress in reducing operational losses and stated changes in "merchandising, product mix and pricing" would help to improve the financial performance. Also, it was still "actively pursuing expansion opportunities in the greater London area". The business operates a large store in Kensington High Street (picture), plus four other smaller stores in affluent locations in London, formerly from the Fresh & Wild brand. The smaller stores are located in Camden, Stoke Newington, Clapham Junction and Soho. Whole Foods had acquired those in 2004.
 

The Guardian