The darling of specialty food buyers and producers everywhere, Whole Foods Market seems to be making some shifts to better serve the customers and shareholders. From loyalty programs to CEO streamlining, the company is attempting to better position itself for the future.
Whole Foods will streamline its CEO position as co-founder John Mackey will become the company's sole CEO. Co-CEO Walter Robb will become a director and senior advisor to the company.
While same-store sales fell 2.6% in the retailer's latest quarter, Whole Foods will focus on providing better customer service and promoting high-quality products rather than cutting prices, reported The State (Nov. 2).
In the wake of the CEO news, a major Whole Foods' shareholder met with potential activist investors to discuss changes at the grocery chain, including replacing management and exploring a sale, according to people familiar with the matter. The investor cited Whole Foods' poor inventory and vendor management, high costs and failure to make the most of its appeal to Millennials among the chain's key issues, reported Omaha World-Herald (Nov. 5).
Whole Foods is also planning a nationwide launch for its loyalty program in 2017. The company will work to integrate more digital coupons in the program, which gives the chain the ability to target offers and learn customers' buying behaviors, reported Chain Store Age (Nov. 4).
It is unclear how the current initiatives at Whole Foods will turn out, but you can be sure the Food Institute will keep a close eye on its progress in our Blog, Report and Today In Food newsletter. Stay tuned for the latest updates.
Merger and acquisition activity in the seafood industry began to fall following the onset of the coronavirus pandemic, reported Undercurrent News (June 4).read more
Campbell witnessed its best quarterly performance in more than 30 years, according to Consensus Metrix, as the the company worked on making its soups better tasting, more filling, and derived from simpler ingredients. It also added trending varieties, such as bone broth, reported
Chris is a business writer and market analyst that focuses on the Markets, Legal and Washington sections of the Food Institute Report. In addition, he assists in compiling data for various Food Institute publications throughout the year. He invites you to contact him via email at firstname.lastname@example.org to talk about anything food-related.
10 Mountainview Road
Upper Saddle River, NJ 07458
Food Institute reps are available to answer your questions
BECOME A MEMBER
For close to 90 years, The Food Institute has been the best "single source" for food industry executives, delivering actionable information daily via email updates, weekly through The Food Institute Report and via a comprehensive web research library. Our information gathering method is not just a "keyword search."