AUSTIN, Texas (July 29, 2015) – Whole Foods Market (NASDAQ: WFM) announced the first five leases for its streamlined, value-oriented 365 by Whole Foods Market brand, with store openings scheduled through 2017.
The company disclosed leases for 365 by Whole Foods Market locations in Bellevue, Washington, Houston, Portland, Oregon, and Santa Monica, California, and also announced that the first 365 store will be located in the Silver Lake neighborhood of Los Angeles.
Whole Foods Market currently operates 24 locations in the Los Angeles area. The company made the strategic decision to renegotiate the lease in development for the Silver Lake location, converting it from a Whole Foods Market to a 365 by Whole Foods Market store. In doing so, the new store will be able to open its doors more quickly, capitalizing on the operational efficiencies and talented team member base already available in the area.
“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,” said Jeff Turnas, president of 365 by Whole Foods Market. “We think the Silver Lake area of Los Angeles is an ideal community to plant our first 365 store flag and bring a modern shopping experience that draws from the best innovations of Whole Foods Market stores and gives them a new expression. With a fresh format and a unique product assortment, we think 365 will offer convenience and value while providing the quality standards and transparency that consumers love and expect.”
The first store locations are slated to open in the second half of 2016. The company plans to double the number of 365 by Whole Foods Market store openings in 2017.
Designed to complement the Whole Foods Market brand by bringing fresh, healthy food to a broader audience with a streamlined, quality-meets-value shopping experience, 365 by Whole Foods Market stores will feature a curated mix of products that adhere to the company’s industry-leading quality standards in an environment that’s fun and convenient for shoppers.