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Whole Foods Plans to Bring Millennial-Focused Store to Brooklyn

  • Retailer is counting on new chain to help reinvigorate growth
  • Company faces more competition from mainstream supermarkets
An employee stocks yogurt for sale on the opening day of the 365 by Whole Foods Market store in the Silver Lake neighborhood of Los Angeles, Calif. on May 25, 2016.
Photographer: Patrick T. Fallon/Bloomberg

Whole Foods Market Inc., the organic grocer mired in its worst sales slump in at least a decade, is bringing its new 365 store concept to Brooklyn.

The Austin, Texas-based company said it has signed a lease to open one of the stores in the New York borough’s Fort Greene neighborhood, not far from the Barclays Center. Officially known as “365 by Whole Foods Market,” the stores are cheaper to build and operate than a traditional location and offer lower-priced items aimed at younger shoppers.