Whole Foods’ new chain named

NEW YORK – Whole Foods says it will name its new chain of smaller stores with lower prices after its “365 Everyday Value” brand. Co-CEO Walter Robb told the Associated Press the chain will be named “365 by Whole Foods Market,” a nod to the brand already sold by the grocery chain.

He said while 365 products will anchor the stores, the chain also will have other items, including national brands.

The new chain, which is slated to begin opening next year, comes as Whole Foods seeks to differentiate itself amid intensifying competition. The company has seen its sales growth slow as organic and natural products have become more widely available.

Jeff Turnas, a Whole Foods veteran who was named president of the 365 chain, said he envisions people stopping in at 365 stores when they want to get in and out of stores quickly, with the regular Whole Foods stores being destinations for bigger shopping trips.