George Whalin
George Whalin
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The department store business has gone through enormous changes in the last 10 years and we aren't through yet. It's a retail format that doesn't have a great future in it. Consumers have decided traditional department stores aren't their favorite places to shop.
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The shopping buddy is an interesting concept but it's essentially an experiment. The future of traditional supermarkets isn't that good right now and companies operating in the channel have to find ways to capture the consumer's attention.
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These little niche markets such as banking and publishing don't make economic sense for Wal-Mart,
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Technological innovation always precedes demand. It's not necessarily what the market wants or is willing to adapt to,
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Discounters and apparel are the heart and soul of this period simply because there are so many kids today that are going to school,
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I think people are nervous about their jobs and when people get nervous about their jobs, they get very careful about spending.
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I think May deciding to sell its Chicago stores to Federated is a very real possibility, ... Federated desperately wants more of a presence in the Midwestern market.
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We're still trying to figure out what they're doing. The jury is still out on whether Kmart is even going to survive.
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Typically, when a mall falls on hard times, it never recovers. They end up being torn down.
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I would be very surprised if Kmart doesn't completely go away in the two to three years, or become something completely different,
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If they're in the middle of remodeling this shopping center, they're not going to stop until they finish it. They can't realize their investment until they complete construction.
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If they're going to reposition their place in the market, this is the way to do it, ... It's a very wise move.
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One thing everyone looks at when you get down to that part of the county is how much business you will get from Mexico. That is a very important part of the equation.
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On the other hand, every major retailer subscribes to weather consulting firms that give seasonal forecasts over a period of a year in advance. They can better plan inventory accordingly.