Tuesday, February 22, 2011

Will Northgate Walmart Thrive Or Fail?

  
Dollar stores hurting retail giant's performance as Walmart reports its seventh straight quarterly decline in sales at U.S. stores open at least a year, posting a 1.8% drop that was much bigger than the company's worst expectations. ( Source )

"What they are doing to everybody else, the dollar stores are doing to them." ~~ Britt Beemer, president of America's Research Group.

SCATS ~~ Let's see ... with 4 dollar stores already located in the area between Dewey/Latta & approx. the Dewey/Stone vicinity, Walmart's opportunity for success at Northgate seems shaky, at best.
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The Town of Greece is holding a drop-in information session to discuss proposed zoning changes in the Dewey Ave. corridor from 4-7PM Mon., Feb. 28, at the Barnard Firehouse, 3084 Dewey Ave.

The session will cover Greece's preliminary mixed-use zoning code. Consultants from Steinmetz Planning Group and Ingalls Planning and Design will give two presentations, followed by an informal question and comment period.
 

9 comments:

Anonymous said...

Walmart kills small businesses Combine that with dollar store overseas junk and you have retail hell. They are both local and national economy killers.

Anonymous said...

Walmart like to own their stores and the land they are on. That is the reason they want to abandon the store in Elmridge Center and move a mile west to the south side of Ridge. Of course there will be a large gaping hole at Elmridge with Sam's probably following Walmart, Tops foundering, the small stores dropping out of the shopping center. Sure was nice to cut down the woods on that corner and put up a mall! Thanks Walmart!
The message is that if Walmart doesn't "own" the land and store at Northgate, don't expect them to stick around when the going gets sticky.They are not in business to increase the economy of local areas. They are in business to take the money and run.

Anonymous said...

Northgate will thrive and new businesses will move in once it is not a rat infested disaster zone. They want out of Elmridge because there is a prohibition in the contract they signed against them selling grocery there. They want to cross the street to build a superstore with all products including food.
They are the most successful retailer in the world - like it or not. They know how to compete globally and will crush anyone who is unwilling to change what they are doing to compete. Businesses who want to survive against them must provide personal service to customers and product lines that Walmart does not sell.
Walmart just experienced a decrease in earnings when they broke their own model and tried to bring in more upscale customers. By moving away from everyday low price and moving into sale items, they lost customer base. They will no doubt go back to their base model. Remember there is no rule that you must shop there if you don't like Walmart. There are lots of choices. Makes no sense at all to sit around and bitch about it.

Anonymous said...

Interesting to compare the investment level made by Comida to get 15 jobs at the Nissan dealership on the Ridge with the number of jobs being estimated with an $8M investment in Kodak's coating technology. Louise Slaughter suggests that $8M could generate 2,000-4,000 manufacturing jobs at the old Kodak Park. That would be (at the low end of jobs) about $4000 per job. Far cry from the give away to the Nissan dealer! Now let's see if they can really come to terms and get the taxes down so Western NY is competitive.

SCATS said...

To 2:01PM ~~ Had you bothered to read the article you would have learned that the dollar stores are crushing Walmart at their own game and they are using the grocery line. Dollar stores are just doing it with smaller size packages of the same items. So this isn't exactly a matter of someone who "sits arounds and bitches."

Anonymous said...

Writing your own comments again?

Anonymous said...

Yes SCATS is on to something here.

I saw a similar story on walmart on CNBC last night (Jim Kramer I think) He discusssed decling profits and markest shares. They are no longer the only game in town.

SCATS said...

To 7:13PM ~~ I've always written my own comments.

Anonymous said...

No one will crush Walmart. Dollar stores are just a pimple on the ass of Walmart. But in a way it proves the case that if you are a smart businessman you can compete or at least coexist with Walmart. Competition brings down prices. Think of all the kids throughout Asia that have jobs because of these competitors. And if that bothers you, shop elsewhere - but read the labels there too.