Whole Foods Market Inc. has lost more than half its value since 2013 as more food stores are catching up with the organic and natural foods trend, so the healthy supermarket chain has decided to close nine stores, including the location at Pacific Station in Encinitas, which opened in June 2011. The North County San Diego Whole Foods will close for business by February 22.
Texas-based Whole Foods currently operates 469 stores and employs 87,000 people with locations throughout the United States, as well as in Canada and the United Kingdom. The 23,000-square-foot Encinitas Whole Foods is the anchor tenant of the three-story, mixed-used retail plaza that it occupies and is one of nine U.S. locations that will shutter. The plaza also has several other retail shops, business offices and nearly 50 residential units that will most certainly be affected by the loss. Many cite the revamp of Seaside Market in Cardiff-by-the-Sea and the opening of Lazy Acres Natural Market, which is less than a mile away, as the reason for the closure. Others claim that parking issues may have slowed sales.
Whole Foods is also backing out of its plan to expand to 1,200 store across the United States. Other stores that will close as part of the downsizing include Sante Fe NM, Boulder CO, Colorado Springs CO, Draper Salt Lake City UT, Davis CA, Augusta GA, Prescott AZ, and South Evanston Chicago IL