Whole Foods Focused On Continued Expansion
In the coming years the Whole Foods Market footprint will continue growing with the grocer planning to open more than 30 new stores annually, according to its CEO Jason Buechel.
Speaking with Yahoo Finance, Buechel said the company has 75 locations currently in production. This expansion, he said, is being driven by customer interest and the company’s plans to test new store formats.
Through the first five months of 2024, the grocer has opened new stores in Connecticut, New Mexico, and Florida. Additionally, Whole Foods is also moving forward with plans to open smaller format stores in urban environments. Ranging in size between 7,000 square feet to 14,000 square feet, the quick-shop stores are about a quarter to half the footprint of an average 40,000 square foot Whole Foods Market store.
The first Whole Foods Market Daily Shop format will in New York City on Manhattan’s Upper East Side with additional stores in the metropolis to follow. A grand opening date has yet to be announced. The format will also expand to other cities across the U.S.
The Whole Foods CEO also noted the grocer is actively working with suppliers to minimize the impact of rising prices. Part of this effort is continued investing in the company’s private label offering to provide quality products at better prices.
