Iceland managing director Richard Walker has reportedly said The Food Warehouse has become the focus of growth and expansion for the frozen food retailer.
The focus comes after The Food Warehouse reported better like-for-like sales performance and a more efficient format than core stores.
The Food Warehouse opened its 150th store, which Walker said started as an “experiment” in 2014, but was now seen as “the source of growth for the group” along with online.
The Food Warehouse’s estate grew by 20 stores in the year to March 26, while Iceland’s core estate shrunk by a net five, including one converted to the business’s first Swift convenience store.
Store openings had “slowed a little” as Iceland dealt with the disruption of the pandemic, but The Food Warehouse was now “definitely in expansion mode again and we’re hungry for sites”, The Grocer reported.
Walker now hopes to open 20 to 30 The Food Warehouse stores a year.”
Last week, Iceland revealed a new target of 200 Food Warehouse stores by 2024.