Blog: Dean BestSales up but losses grow for Whole Foods in the UK

Dean Best | 10 July 2013

Whole Foods has booked a set of mixed annual results for its fledgling UK business, which the US natural and organic retailer is expanding. 

In a filing with Companies House, Whole Foods said losses from its UK arm almost tripled in the 12 months to the end of September last year. Whole Foods made a loss of GBP12.6m (US$18.8m) in the UK, compared to GBP4.4m a year ago, itself higher losses than the year before.

The retailer pointed to an impairment charge and the costs of opening stores in Glasgow and Cheltenham. Whole Foods also run up costs from relocating an outlet in London.

Margins were lower as Whole Foods changed its strategy of sourcing prepared foods.

The new stores helped boost sales, which were up almost 27.8% at GBP64.6m. Identical-store sales should also give Whole Foods cheer, increasing 9.7%.

Whole Foods has been one of the stand-out performers in the US in recent years despite the pressure on consumer spending.

Results from its UK business have proved less flattering but the retailer still has confidence about its operations on this side of the pond, with plans for more stores.


BLOG

Danone closes WhiteWave, who will acquire Stonyfield?

Danone completed its US$12.5bn acquisition of WhiteWave Foods this week. The move will roughly double Danone's presence in North America, where WhiteWave is a top four dairy player. ...

BLOG

Premier Foods pension news offers cheer but challenges remain

Premier Foods plc revealed today (28 March) it has secured a deal with its pension scheme trustees that will see the UK food maker reduce its pension burden....

BLOG

Another reshuffling of pack at Hain Celestial

Hain Celestial, under the scrutiny of the investment community in recent months and facing some challenges in its domestic market, has announced another shuffling of its management pack....

BLOG

FrieslandCampina looking to sell final non-dairy asset

FrieslandCampina, which today served up higher profits but lower sales for 2016, is ready to offload the last non-dairy business owned by the Dutch cooperative giant....

just-food homepage



Forgot your password?