Whole Foods Market has recorded a loss in its UK operations, as revenues have dropped.
The company reported pre-tax losses of £20m for the year to 31 December 2024, despite a 14% decline in administrative expenses to £47.7m last year, The Grocer reported. The losses added to a £23.1m deficit the year prior.
The results mean the business has pulled in total losses of over £200m since debuting in the UK in 2004.
The US supermarket chain – which has six branches in the UK, all in London – saw sales in its UK arm fall to £86.4m over the year.
Its Fulham and Richmond stores only contributed to sales until 10 June, when the sites were closed.
Margins at the retailer contracted over the period due to store closures combined with increased supply chain costs, newly filed accounts revealed.
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Additionally, the brand faced a £350k lease charge related to its underperforming and closed shops.
The results come after the brand opened its first new UK store in a decade in March along London’s Kings Road, as it ramped up its London presence.
Speaking to The Grocer, a Whole Foods Market spokesman said: “We continue to focus on sustainable growth in the UK market, as demonstrated by our successful opening on the King’s Road.
“This new location represents our commitment to serving more customers and communities in the UK, while maintaining our high-quality standards and local partnerships.”
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