SILVER LAKE — What’s the difference between a Whole Foods Market and a 365 by Whole Foods Market? Silver Lake shoppers will find out after the high-end grocery store chain announced today that the store it is planning to open on Glendale Boulevard will not be a traditional Whole Foods. Instead, it will be the first of its new “convenient, streamlined, value-oriented” 365 by Whole Foods Markets.
The company, which disclosed the switch as it presented its quarterly financial results to Wall Street analysts and investors, said it has renegotiated the lease on the Silver Lake store, a former Ralphs that closed last summer, so it could open a 365 by Whole Foods Market and open more quickly. The Silver Lake store is scheduled to open in the second half of 2016.
“We think the Silver Lake area of Los Angeles is an ideal community to plant our first 365 store flag and bring a modern shopping experience that draws from the best innovations of Whole Foods Market stores and gives them a new expression,” in a statement. “With a fresh format and unique product assortment, we think 365 will offer convenience and value while providing the quality standards and transparency that consumers love and expect.”
The company had previously said the new Silver Lake store would contain a restaurant and wine bar. But it’s not clear whether the 365 format, named after the chain’s house brand, will include either. The Eastsider has contacted the company for more details.
Whole Foods, which has described its new concept as “convenient and affordable,” said it will also be opening a 365 store in Santa Monica as part of the first five new stores in the chain.
A story in the Seattle Times says that Whole Foods’ 365 stores are part of the company’s attempt to compete with the smaller markets operated by Trader Joe’s and shed its “Whole Paycheck” reputation for high prices.
Update & Correction: Whole Foods spokesman Michael Silverman said the company has not disclosed how the 365 by Whole Foods Markets will differ from the traditional stores “for competitive reasons.”
“As for the wine bar, we are not confirming that or other specific aspects of the forthcoming store at this time,” Silverman said via email. “We’ll be happy to share more details about the store with you and the community when we’re ready to do so.”
Silverman also said the Silver Lake store will open in the second half of next year. An earlier version of this story said that the store would open during the first half.