Whole Foods Announces Plans for London Flagship
Austin, Texas, Whole Foods Market announced today that it plans to open a 75,000-sq.-ft. flagship store in central London on Kensington High Street. The expected opening date is early 2007.
According to chairman and CEO John Mackey, the United Kingdom is an obvious choice “due to the advanced acceptance of organic foods and the lack of a language barrier.”
The world’s leading natural and organic foods supermarket had acquired U.K.-based Fresh & Wild, a small chain of natural and organic food stores, in January 2004 and subsequently announced its intention to find a site for a large-format Whole Foods Market store in the London area.
Bed Bath & Beyond Finds Financial Success
Union, N.J., Housewares retailer Bed Bath & Beyond has exceeded financial expectations for 52 consecutive quarters. The company plans to continue this trend by opening 500 stores in the next five to seven years. It expects to open 85 of those stores this fiscal year, which ends in February 2006.
Currently, the company has 675 Bed Bath & Beyond stores and 35 Harmon stores. The company acquired Christmas Tree Shops, a chain of 26 stores, last year.
Sports Authority Shows Growth
Englewood, Colo., The Sports Authority reported net income for the second quarter was $14.2 million, compared to $6.8 million in the same quarter last year. Total sales for the second quarter were $617.0 million compared with $605.0 million in the prior year’s second quarter, an increase of $12.0 million, or 2.0%. Second-quarter comparable-store sales for the company increased 0.2%.
Doug Morton, CEO, commented, “We exceeded earnings expectations for the second quarter driven by improvements in gross margin and effective management of our operating expenses.”
The company opened one store and closed two stores during the second quarter. As of July 30, it had 392 stores in 45 states.