Whole Foods 365 officially open in Los Angeles

Whole Foods (NASDAQ:WFM) debuted its new 365 by Whole Foods Market today in the Silver Lake neighborhood of Los Angeles. It's the first in what the grocer hopes is a new chain that is better positioned to capture price-sensitive millennials.

The 30,000-sq.-ft. concept has been more than a year in the making. 365 offers lower prices and a more localized assortment of goods and services.

To keep prices down, the store is stocking fewer organic items in produce and pricing is per piece rather than per pound, similar to Trader Joe's strategy, according to Reuters. Overall, 365 carries just a quarter of what the larger stores stock.

The store is peppered with whimsical signs and sayings, and features new services from third-party partners, or "Friends of 365."

365 is meant to complement the flagship banner and plans are to roll out stores throughout the United States. The company has 19 leases signed and the second store is scheduled to open in Oregon in July.

For more:
- see this Los Angeles Times article
- see this Reuters story

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