Whole Foods Market sees the potential to more than triple the number of US stores, co-Chief Executive Walter Robb said at the Jefferies 2011 Global Consumer Conference. Robb feels Whole Foods can grow its domestic store base from around 300 currently to 1,000 in the longer term.In Canada, the retailer is also looking to ramp up expansion with the longer term goal of growing from the current six stores to 35.
Robb said that Whole Foods is gaining market share, is now debt free and generating good free cash flow which the retailer plans to put towards store openings. He added that the company also plans to open five wellness clubs in different cities around the US. Members will pay a $50 monthly fee and be entitled to store discounts and access to supper clubs.
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