Whole Foods opens first '365 Market' in Silver Lake

- The first 365 by Whole Foods Market store opens Wednesday in Silver Lake.

The 365 stores will be smaller than a traditional Whole Foods supermarket and feature a different layout. The company says the stores will save costs by reducing the number of workers needed and also the variety of products offered to customers, compared with a traditional Whole Foods Market.

Whole foods has struggled to compete with other specialty grocers like Trader Joes and Sprouts since allegations of overcharging customers in New York City.

Shares are down 7% this year following a 33% drop in 2015.

"We are excited to introduce 365 by Whole Foods Market to bring healthy foods to even more communities with the fresh, quality-meets-value shopping experience that's fun and convenient," said President Jeff Turnas.  "A modern streamlined design with innovative technology and carefully curated product mix will offer an efficient and rewarding way to grocery shop."

Whole Foods is also developing 365 Markets in Santa Monica, Claremont, Los Alamitos, Long Beach, and North Hollywood.

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