Grocer Eliminates Dual CEO Structure
Reported in the Wall Street Journal
In recent years, Whole Foods has cut prices, increased promotions, and started a loyalty program – all tactics of mainstream supermarkets such as Kroger Co. and Wal-Mart Stores, Inc. – as it seeks to rid itself of its image as an overpriced chain.
Whole Foods also has encouraged food-safety concerns including warnings from U.S. health authorities about a Massachusetts plant that produces prepared foods, and fears that two cases of hepatitis A potentially were linked to the prepared-food section of a Whole Foods in Detroit.
Whole Foods is hoping its new, less-expensive spin off chain, 365 by Whole Foods Market, will be a hit with younger Americans who are willing to buy store-branded foods and don’t demand the frills of traditional Whole Foods stores.