Whole Foods Market (WFM), the organic superstore operator, said that the UK remained the main area of opportunity in Europe, despite reporting operating losses of $18.4m (£9m) at its London-based stores.
The company said that it expected to break even by 2011, reducing pre-tax operating losses to $13m in 2009 and $7m in 2010.
John Mackey, WFM’s chief executive told The Grocer, M&C Report’s sister publication, that he still believed that the UK had long-term potential and that the company would review its British operations with the aim of improving its performance.
Mackey said: “We initially lost money when we entered Canada as well. We believe the long-term growth in the UK is much greater than in Canada.
“We are carefully evaluating all aspects of our operations in the UK, with the intent of improving our results over the short term and delivering strong results over the long term.”
The company did not give details about its expansion plans, although it recently identified Birmingham as the first of several provincial sites for a roll-out.
The company, which operates five Fresh & Wild stores and the flagship High Street Kensington site in this country, had that it was disappointed with its results in the UK when it issued its latest trading update at the beginning of August.
