So many times in this space I have written and others as well concerning food retailers and their drive to take as much money from consumers to satisfy stock holders. Today it was announced that Walmart will be closing over 250 smaller type stores. What I would like you to read is this statement that was made by their CEO in 2011 when they were launching this type limited assortment store venue.
“We will now open between 270 and 300 small format units this year, which will nearly double our fleet and fuel growth as we enter the next generation of retail,” Wal-Mart’s US president and CEO Bill Simon said in the earnings call. Overall comparable store sales declined by 0.4% in the US, but increased by 5% for the smaller Neighborhood Market format. The Wal-Mart Express pilot program, which has 20 convenience store style locations in three states, will now expand to more areas. Since overall sales growth has been sluggish and the company has lost business to discount and dollar stores, it hopes that it can boost growth and reach new urban markets with a different format."
When you read the statement by their CEO the first thing that comes to my mind is "greed". This public company as put more small companies on the rocks or worst yet out of business. There are so many segments in food retailing and enough market for everyone, but Walmart does not believe in the old idiom "live and let live". They want to seek out and destroy the competition. If you read in-between the lines of the "statement" you can see that they want a big piece of the neighborhood mom & pop business as well as the convenient store business.
So what happened? Walmart under estimated the power of the consumer decision making process in the market place and now has to eat a little crow. The sad part is that Walmart or the investors could care less about the 10,000 employees that will loose their jobs!
I liked Walmart better before they became Super Centers Most people I know who shop with them will not buy their meat. Up here in Michigan, Meijer, Kroger and several Independents seems to be doing just fine for decades within 2 miles of Walmsrt.
They also kill big companies, we had over 1100 Winn-Dixie stores in 1997. Closed about 900, went bankrupt, sold to Bi-Lo.
From Online Article:
Wal-Mart has killed or wounded competitor after competitor: Bradlees, Circuit City, Toys R Us, and grocery chain Winn-Dixie, not to mention thousands of small Main Street merchants.
I liked Walmart better before they became Super Centers Most people I know who shop with them will not buy their meat. Up here in Michigan, Meijer, Kroger and several Independents seems to be doing just fine for decades within 2 miles of Walmsrt.
Good morning fdarn, I see in your post that you are in Michigan. I spent 5 years of my life in Kalamazoo working for Murco Inc. in Plainwell. Murco was my first solo meat packing company that I had the privilege to manage.
I liked Walmart better before they became Super Centers Most people I know who shop with them will not buy their meat. Up here in Michigan, Meijer, Kroger and several Independents seems to be doing just fine for decades within 2 miles of Walmsrt.
Good morning fdarn, I see in your post that you are in Michigan. I spent 5 years of my life in Kalamazoo working for Murco Inc. in Plainwell. Murco was my first solo meat packing company that I had the privilege to manage.
I liked Walmart better before they became Super Centers Most people I know who shop with them will not buy their meat. Up here in Michigan, Meijer, Kroger and several Independents seems to be doing just fine for decades within 2 miles of Walmsrt.
Good morning fdarn, I see in your post that you are in Michigan. I spent 5 years of my life in Kalamazoo working for Murco Inc. in Plainwell. Murco was my first solo meat packing company that I had the privilege to manage.
I liked Walmart better before they became Super Centers Most people I know who shop with them will not buy their meat. Up here in Michigan, Meijer, Kroger and several Independents seems to be doing just fine for decades within 2 miles of Walmsrt.
Good morning fdarn, I see in your post that you are in Michigan. I spent 5 years of my life in Kalamazoo working for Murco Inc. in Plainwell. Murco was my first solo meat packing company that I had the privilege to manage.
That is good. How long ago was that?
From 1983 to 1988. Where in Mi. do you live?
Thumb Area. About an hour and a half north of Detroit.
I liked Walmart better before they became Super Centers Most people I know who shop with them will not buy their meat. Up here in Michigan, Meijer, Kroger and several Independents seems to be doing just fine for decades within 2 miles of Walmsrt.
Good morning fdarn, I see in your post that you are in Michigan. I spent 5 years of my life in Kalamazoo working for Murco Inc. in Plainwell. Murco was my first solo meat packing company that I had the privilege to manage.
That is good. How long ago was that?
From 1983 to 1988. Where in Mi. do you live?
Thumb Area. About an hour and a half north of Detroit.
I did lots of hunting in the Hart Mi area. What do you do now? Are you retired or still working?
