Whole Foods Market eyes ambitious Canadian expansion

Nov 21, 2014
Austin Business Journal

Whole Foods Market Inc. has its eyes on our neighbor to the north, with plans to expand by adding as many as 40 stores across Canada, reports the Wall Street Journal

In an interview at the opening of a Whole Foods store in Ottawa, Canada's capital, on Wednesday, Whole Foods Co-CEO Walter Robb said " we want to open 35 to 40 stores in Canada. But you can do them only one at a time. We have been in Toronto and Vancouver for over 10 years. And we will be in Calgary."

If the Ottawa reception for Whole Foods is any indication, there may be plenty of Canadians who might make the Austin-based grocery chain their place to pick up organic maple syrup and round bacon slices

According to the Ottawa Citizen, hundreds of shoppers braved sub-zero temperatures as early as 6 a.m. to be in line when the store opened at 9 a.m.

Things are looking a bit brighter for Whole Foods recently, as the company beat analysts' expectations in its most recent quarterly report, reversing a year of bad news that saw the company's stock price drop by nearly a third, losing roughly a third of its value as it fell from a high of roughly $65 in Oct. 2013 to lows in the mid $30s. The company's stock, as of early Thursday, was trading at $47.84

Print Article opens in new window