The Food Warehouse now the “focus” of Iceland
Iceland managing director Richard Walker has reportedly said The Food Warehouse has become the focus of growth and expansion for the frozen food retailer.
The statement comes after The Food Warehouse reported better like-for-like sales performance and a more efficient format than core stores.
Founded in 2014, The Food Warehouse was created to be Iceland’s “big brother” – a large bulk-buying destination for shoppers. The Food Warehouse opened its 150th store, which Walker said started as an “experiment” in 2014, but was now seen as “the source of growth for the group” along with online.
The Food Warehouse’s estate grew by 20 stores in the year to March 26, while Iceland’s core estate shrunk by a net five, including one converted to the business’s first Swift convenience store.
The Food Warehouse is owned by the Walker family, who also own Iceland. Richard Walker is the son of Iceland’s founder and executive chairman Michael Walker.
