Whole Foods Closing Davis Store After Missing Revenue Target

DAVIS (CBS13) — Whole Foods will be closing its Davis store amid declining revenue, the company said on Wednesday.

No final day for the store has been announced.

The company fell short of Wall Street estimates in the first quarter, earning 30 cents per share versus the expected 39 cents per share. Whole Foods cited increased competition hitting their higher-end offerings as part of the reason for the missed expectations.

The company issued the following statement on the closure

As we work to position Whole Foods Market for long-term success, we have carefully evaluated our portfolio of stores to align with a more thoughtful growth strategy. As a result, we have decided to close the Davis store. This was not a decision that was made lightly and we are working closely with all affected team members to find alternative positions at nearby stores where possible.

The Davis store opened in 2012.

Whole Foods was expected to be part of a Midtown Sacramento development, but abruptly pulled out of the project in September before the groundbreaking. The company cited timing issues with the landlord, but said it would continue to look for a location in the Sacramento area aside from its Arden Way location.

The company also announced it would be closing a location in Augusta, Georgia.