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Whole Foods said the first of their new "bargain" chain of stores will open next year, and the chain will be called "365 by Whole Foods Market."
The name is also part of 365 Everyday Value, the private-label brand name for Whole Foods products.
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"This is a fundamental strategic decision of the company to say at this fork in the road, as we read the tea leaves and the marketplace, we're going to go attack," co-CEO Walter Robb said Thursday. "For the last couple of years, we've been the hunted. This turns us back into the hunter." (Source: Fortune)
The plan to open smaller stores was announced in May.
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