Whole Foods Market Inc. will open a 365 value-concept store in Santa Monica this summer, its second such location in the region as the company grapples with declining sales in an increasingly crowded industry.
The store on the corner of Pico and Cloverfield boulevards is scheduled to open Aug 9., the Austin, Texas, firm said Tuesday.
The small-format stores are aimed at consumers who don’t typically shop at the organic grocer, including younger individuals without a lot of disposable income. Prices are lower than at a typical Whole Foods, which has at times been derided as "Whole Paycheck."
Prices are kept lower in part by a smaller footprint — both in real...