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

Barilla puts sustainability centre stage

Barilla's 2016 results statement, published last week, makes interesting reading, not because of the Italian food group's commercial performance, but for the emphasis placed on sustainability achievem...

BLOG

UK M&A deal volumes slide in early months of 2017

Fresh data from Grant Thornton indicates the number of mergers and acquisitions in the UK food and drink sector fell to the lowest level for over two years in the first quarter of in 2017 - but the ac...

BLOG

Food policy returns to focus in Westminster

Amid the political turmoil in the UK caused by the EU Referendum, the resignation of a Prime Minister, subsequent burning debates over the Brexit “divorce” settlement and now by the surprise announcem...

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. ...

just-food homepage



Forgot your password?