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Whole Foods Forecasts More Blockbusters in 23-Store Pipeline

AUSTIN-Whole Foods is unloading an investment while prepping for some serious store openings in new markets. Pittsburgh, Toronto, Santa Monica, CA and Portland, OR are the latest to be added to the Whole Foods' pipeline.

By Connie Gore | Updated on November 24, 2000

AUSTIN-Whole Foods Market Inc. is axing its Amrion investment while announcing plans to open stores in Pittsburgh, Toronto, Santa Monica, CA and Portland, OR.

Discontinuing Amrion and its losses have cost Whole Foods about $49 million as plans are readied to sell off manufacturing and retail locations. Whole Foods says the decision does not affect the 20% to 25% sales growth forecast for 2001.

It’s the announcement of new stores that headline the corporation’s quarterly earnings report, which shows same store sales up 8.6% and identical stores, riding at 6.8%. The increases reflect four relocated stores and one remodeled property, totaling an average 96% increase in square footage – a move toward bigger boxes for its retail outlets.

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