Whole Foods ditches luxury lines for discounted products
Whole Foods is axing its luxury products and increasing the range of discounted items in its London stores as losses widen.
The Amazon-owned retailer’s ‘cheese vault’ that features highly priced, fine cheeses at its flagship Kensington store has been removed, alongside its selection of refillable products such as grains and nuts, the Evening Standard reported.
Whole Foods has also introduced a wider range of discounted items which can be found more easily in stores via new “low prices” signs.
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This comes as the upmarket retailer is following the likes of Tesco, Sainsbury’s and Asda in scaling back staffed checkouts and rolling out self-service options.
Despite Whole Foods having hired retail specialist law firm Gordons last November to grow its business in the UK, this arm of the US retailer recorded loss last year as inflationary price rises hit sales.
The organic supermarket chain reported a pre-tax loss of £26.3m from just seven London stores, with sales dipping 2.9% to £91.6m.
1 Comment. Leave new
Some organic like processed type , is it really organically processed? Fresh produce, is it really organically planted? I meant the soil and water, fertilizer and such? Nevertheless, when all more or less the same, the main thing is location only, convenience? How boring whren more or less the same.