Whole Foods Market Inc. (Nasdaq: WFMI) announced plans to open its first flagship store outside the U.S. and Canada – in London. The 75,000-square-foot supermarket is scheduled to open in early 2007.
The London store is a “first step in expanding the Whole Foods Market brand in the United Kingdom and ultimately into other parts of Europe, where we believe the long-term growth potential is tremendous,” said Jim Sud, executive vice president of growth and business development.
Just six of the company’s 170 stores are in the 60,000- to 80,000-square-foot range, with another 17 under development. The larger stores “take longer to reach maximum capacity and are less vulnerable to competition,” Sud said.
In January 2004, Whole Foods acquired U.K.-based Fresh & Wild, a chain of seven natural foods markets, and announced plans to expand its brand to the country.
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