UK: Whole Foods sales drop but losses decrease
Whole Foods operating losses in the UK have narrowed
Whole Foods' UK operations posted a drop in sales in the year to last September, but the company managed to significantly reduce its operating losses over the period.
Sales fell from GBP48.85m (US$74.17m) to GBP43.07m, an 11.8% drop, impacted by one store closure.
Same-store sales decreased 4.5%, which Whole Foods attributed to the challenging retail environment caused by the downturn.
Operating losses decreased from GBP36.1m in the prior year down to GBP4.4m in 2009.
Whole Foods said its continued growth in the UK depends on its ability to open new stores in “existing and new markets” and to operate these stores successfully.
However, the retailer admitted that it faces "intense competition" from other retailers for such sites.
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