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Whole Foods Won't Expand Low-Cost '365' Chain
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12 Jan 2019 12:40 AM EST

Whole Foods is reportedly halting expansion of its entire chain of low-cost grocery stores. Business Insider reports the Amazon-owned company is putting an end to its chain -- which was called 365 by Whole Foods Market -- less than three years after opening the first of 12 locations. An internal company email, first reported by Yahoo Finance, cited the reason as a diminishing price gap between the regular and low-cost Whole Foods chains. Whole Foods CEO John Mackey wrote in the email, "As we have been consistently lowering prices in our core Whole Foods Market stores over the past year, the price distinction between the two brands has become less relevant. As the company continues to focus on lowering prices over time, we believe that the price gap will further diminish." The 12 stores that are already built will not be closed, but no further stores will be opened.

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