What is in this article?:
- Whole Foods’ Comp Trends Slow
- Decelerating Comps
"The Northeast region was comping over 20%, clearly indicating customers are continuing to restock.”
— John Mackey, Co-CEO, Whole Foods
Decelerating Comps
Andrew Wolf, managing director for BB&T Capital Markets, Richmond, Va., said the deceleration of comps in the first few weeks of the first quarter “reflects a negative but not quantified impact from Hurricane Sandy and a difficult year-ago comparison due to a gift card promotion with LivingSocial.”
Mackey said Whole Foods is narrowing the price gap with other retailers, with its price position relative to 80 competitors improved by 100 basis points, “resulting in our most competitive position in more than three years.”
More news: Whole Foods Launches Foodie Travel Company
An important element in its value pricing strategy is an ongoing expansion of private-label offerings, including 70 new frozen items under the 365 and Whole Foods Market labels beginning in late September.
In response to a question, Mackey said the company is considering introducing a loyalty program. “We may tie it to the introduction of our wellness clubs within the next couple of years.”
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