All eyes have been on Whole Foods since activist investors demanded radical action to address its recent “chronic underperformance." But is Albertsons – rumored to be courting the Austin-based retailer – the right suitor?
Activist investors led by Jana Partners have acquired 8.3% of Whole Foods’ stock according to an SEC filing, which says Whole Foods must take radical action to address its recent “chronic underperformance."
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Whole Foods is dropping its co-CEO structure, with John Mackey to take over as sole CEO at the end of the year, said the retailer, which posted a 2.6% decline in same store sales in the fourth-quarter and a 4.2% drop in traffic.
If the next wave of 365 by Whole Foods Market stores performs as strongly as the first one, which opened in Los Angeles on May 25, the new format will be scaled up “very rapidly,” says co-CEO John Mackey.
Centralizing the purchasing of non-perishables will ultimately make Whole Foods a lot easier to deal with, said chief operating officer AC Gallo during the retailer’s second quarter earnings call last week.
The first 365 by Whole Foods Market store is set to open in the Silver Lake neighborhood of Los Angeles on May 25, with a second to follow in July in Lake Oswego, Oregon, a third in September in Bellevue Square in Washington State, and up to 10 more nationwide...
The new 365 by Whole Foods Market smaller format stores will have "very, very competitive prices" and “open up a whole new set of customers who, so far, have for various reasons, have not liked Whole Foods Market”, co-CEO John Mackey told analysts...
Unable to shake its reputation for being notoriously expensive, Whole Foods Market is changing tack to appeal to less affluent millennials with the launch of a new value-focused chain.
US consumers can afford to buy healthy food, but they have been ‘corrupted’ by the availability of cheap food to spend less, says the co-founder of Whole Foods Market.