Wednesday, April 2, 2008

JC Penny and Walmart changing tactics

Are major retailers changing approaches?

Kenneth Leonard at GLGroup opines that JC Penny is taking worse locations, paying too much in some cases due to blind goals for expansion. Here in Valpo we definitely have a JC Penny that must be a B location. I haven't heard numbers, but until that center on the eastside of town gets more activity, the JC Penny has to be struggling. I can only hope that the growth does continue to expand to the eastside of 49. It does cause me to wonder if now is the time to make an offer on ground in that area.

With regards to Walmart, he goes on to suggest that Walmart is now holding on to their locations and waiting it out for higher prices. I have to agree, they did just that in Valparaiso, and finally go the price they wanted from TSC.

In Northwest Indiana we are beginning to see the introduction of the big boxes but in many cases in conjunction with lifestyle type developments, a welcome addition to jobs and economy.

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