Word: beemer
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Dates: during 2000-2009
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...space for consumables. "Walmart sells what you need to have," says Davidowitz, "as opposed to what you want to have." Not only does Walmart sell more of the grocery items you need - the company is the world's largest food retailer - it sells them at better prices. Britt Beemer, founder of America's Research Group (ARG), says customers have fled Target because they think of the company as an apparel retailer and believe that the groceries it does sell are overpriced. (See Real Simple's saving and budgeting tips...
...What's more, Walmart isn't just some massive outlet that peddles cheap wares; it has focused on food for a long time, and is really hitting a stride during the recession. "Walmart works hard to build a strategy around groceries," says ARG's Beemer. "They look at groceries as a way to get people in the store for the first time. Target sees it as an add-on sale." In a research note titled "It's Walmart's Time & Investors' Opportunity," Deutsche Bank analyst Bill Dreher Jr. wrote, "Bottom line, Walmart is executing flawlessly...
...their third-quarter 2008 profits fall 43% and 36%, respectively. Bennigan's went bankrupt, Ruby Tuesday will shutter 40 locations by the end of February, and more than a dozen regional chains have filed for bankruptcy. "Any time people can trade down, they're doing that," says Britt Beemer, chairman of America's Research Group, which studies consumer behavior. "If you can't afford to eat at Chili's, you'll snap up McDonald's." (Third-quarter sales for Chili's dropped 3%.) (See pictures of the recession...
...according to the International Council of Shopping Centers. A rough holiday season will produce an additional 73,000 store closings in the first half of 2009, the council predicts. "In the first six months of next year there will be a lot more retail museums than retail stores," says Beemer...
...investors Barington Capital Group LP and Clinton Group Inc. called for William Dillard II, the chain's CEO, to step down amid declining revenue and a stock price that has lost more than 70% of its value. The good news: "They aren't leveraged like other stores are," says Beemer. "But if you look at mall-based apparel stores, any of them could be in trouble except for Victoria's Secret, which has a good customer base." (See 10 things to do with your money...