posted on November 12, 2010 02:03
Austin-based Whole Foods Market Inc. (Nasdaq: WFMI) is opening two stores in the United Kingdom, the company said Wednesday.
The natural and organic foods retailer is opening a 22,00-square-foot store in Glasgow, Scotland and a 20,000-square-foot shop in London. The locations will open in 2011, and 2013 in London, and create 300 jobs.
Whole Foods currently operates five stores in the Greater London area. This will be its first U.K. expansion since opening a store in Kensington in 2007, according to a news release.
“We are delighted to underscore our commitment to the UK and make this further investment in our business here. It’s always been our ambition to open stores the length and breadth of the UK to offer our fresh and vibrant shopping experience," said Jeff Turnas, Whole Foods Market U.K. regional president.
The new follows strong quarterly results. Net income rose to $57.5 million, or 33 cents per share, in the fourth fiscal quarter, up from $28.7 million, or 20 cents per share, the same three months last year.
Whole Foods, founded in 1980, operates close to 300 stores in 38 U.S. states, Canada and the U.K. The company has another 44 stores in development, averaging about 43,000 square feet, according to its website.
Whole Foods shares were trading up 1.53 percent at $41.07 per share at market closing Wednesday. Stock has sold at a high $43.18 and low $24.94 per share in the last 52 weeks.
11/4/10, Austin Business Journal