The UK arm of Whole Foods Market has reported a loss of £4.4m, five years after it opened its first full-scale store.
The loss for the year to 25 September compares with a £3.1m loss in 2010, according to accounts made available at Companies House. Over the same period, sales improved by 9% to £50.6m.
The US organic food retailer has yet to make a profit in the UK, weighed down by the cost of the 80,000 sq ft flagship Kensington store and the declining organic food market.
However, Whole Foods said it remained committed to the UK market. It said it had three stores in development that are scheduled to open in fiscal year 2013 and beyond.
The retailer currently has six shops in the UK, having opened a new site in Glasgow in November and relocated its Soho shop in May. The newly opened stores are significantly smaller than the first Kensington store, averaging 19,800 sq ft.
No comments yet