Losses at Amazon-owned Whole Foods Market’s UK operation jumped over 50% last year as customers traded down from its premium offering.

Newly filed accounts for UK trading arm Fresh & Wild showed operating losses rose 53%, from £17.2m to £26.3m in 2022.

Meanwhile sales fell 3% to £91.6m. The accounts said decreased demand was “driven by higher costs caused by inflation”.

It followed a 4% drop in sales to £94.3m in 2021,as the chain suffered decreased demand during lockdowns and a fall in tourism levels.

As well as a drop in headline sales last year, input cost inflation and higher supply chain costs pushed down gross profit margin from 37% to 36%.

Meanwhile administrative expenses increased by 13% to £59m.

Whole Foods Market, which was bought by the e-commerce giant in 2017 in a £13bn deal, currently operates seven London-based bricks-and-mortar stores in the UK.

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