Whole Foods Opening of Lower-Priced Brooklyn Store Is Another Positive Step
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Version 0 of 1. On Friday, supermarket chain Whole Foods Market (WFM) took another step in trying to shed its reputation as overpriced by announcing that it will open its fourth lower-priced 365 store in the hipster capital of Brooklyn, N.Y. The opening is a further step in the right direction for Whole Foods and could benefit investors long-term. 365 offers a smaller selection of store-branded organic groceries. The stores themselves are cheaper to build and maintain than traditional Whole Foods stores, helping to keep costs low. The Brooklyn location near many of the borough's main business and cultural high points. For decades, Whole Foods was the leader in organic food and produce. However, as healthier eating trends gained traction with Americans, other grocery stores such as Kroger, super-retailers like Walmart, and even e-commerce behemoth Amazon started building out their own impressive organic offerings. |