AP Food Industry Writer
NEW YORK (AP) - Whole Foods says it will name its new chain of smaller stores with lower prices after its "365 Everyday Value" house brand.
Co-CEO Walter Robb tells The Associated Press that the chain will be named "365 by Whole Foods Market," a nod to the products already sold by the grocery chain. He said that while 365 products will anchor the stores, the chain will also stock other items, including national brands.
The new chain, which is scheduled to begin opening next year, is partly a way to differentiate itself amid intensifying competition. Stores are also trying to adapt to the changing ways people are shopping.
Wal-Mart, for instance, has been opening smaller "Neighborhood Market" stores that are targeted toward shoppers who want to get in and out quickly.
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