Not exactly a vote of confidence

365 executives satisfied with first-day business

May 25, 2016 Elliot Zwiebach

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365 executives satisfied with first-day business

May 25, 2016 Elliot Zwiebach

http://supermarketnews.com/new-consumer/365-executives-satisfied-first-day-business#ixzz4Ayx0dSH8

"Executives at the first 365 by Whole Foods Market in Silver Lake, Calif., appeared satisfied by the middle of opening day Wednesday with the direction of the store’s sales, though they said they weren’t sure what kind of volume the store might ultimately do. “With a smaller product mix and a smaller basket, we’re not sure what to expect,” one of them told an industry observer who walked the store with SN. “We’ll see at the end of the ........

So, where are the actual numbers? If they were anything spectacular, I'm sure we'd be hearing about it. To say they "aren't sure what to expect" and "we'll see....." doesn't exactly inspire confidence. Let's face it, 365 is too little, too late and I think they've been far too quick too sign those additional 6 leases. 365 is not going to be the magic potion that saves the whole company. Those big box Whole Foods stores are too much of a financial drain and they haven't been able to sell them off. I hope someone does offer to buy them out though because that might save at least some peoples' jobs.

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Of course the 365 sales are good...opening numbers are always fantastic because they give stuff away. It's like a college party where there are several kegs and what do you know? Suddenly the whole neighborhood figures out there's a party. Stop by there in about a year when competitors open nearby and the most exciting thing going on is 365 corn flakes. This is not going to save the company people.

The sales should be presented in a metric relatable to other grocers, like sales per square foot. Since Walter Robb AND John Mackey lied about WFM having the highest sales per square foot in the grocery industry (at the time of their lie TJs was the first, Kroger was second, WFM was maybe sixth or seventh), I wouldn't believe anything they say unless I look at their sales myself.

You can look up their sales on SMORE. They look pretty good actually.

The company keeps pumping the future of 365, a totally unproven concept with not just 6 but 19 more on the way in short order. Meanwhile, execs REFUSE to break out the P&L of the 365 separately from that of the rest of the company. If this is all that and a bag of chips, why not be transparent about costs, investments and results and show investors exactly what the new chain is doing?

Thread regarding Whole Foods Market Inc. layoffs

Not exactly a vote of confidence

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