New Whole Foods Stores Will Target Millennials

Whole Foods is trying a new store format that it hopes will broaden its appeal and expand its brand by targeting Millennial shoppers intrigued by the company’s social and ethical standards but unable to afford the high prices. The new format will take the form of a separate chain of stores that will offer lower prices. Thanks to the rise of natural and organic foods competition from mainstream grocery chains, Whole Foods has lost some of its cachet. That loss is reflected in recent financial performance: the company’s 2nd quarter profit missed analyst expectations, and its stock dipped 10 percent. The new format stores will begin opening in 2016.