business news in context, analysis with attitude

The Fort Greene/Clinton Hill Patch reports that "a 74,000-square-foot Wegmans supermarket planned for the Brooklyn Navy Yard will swallow the entire first floor of a new five-story building at 21 Flushing Ave., according to architect renderings and plans filed this week with the city."

The story goes on to say that "the popular supermarket chain will be moving into the city at a time when local favorite Fairway is struggling to stay afloat. Fairway filed for bankruptcy earlier this year, setting both employees and customers on edge.
Wegmans, on the other hand, has said its first New York City outpost will initially employ 450 workers, of which 150 will be full-time — although that number could grow to 250 in the future."
KC's View:
In financial terms, Wegmans would be seen as a growth stock. Fairway? Not so much.

In fact, I can't think of anyone who would rather have a Fairway store in their neighborhood as opposed to a Wegmans. This speaks both to the high quality that Wegmans brings to the marketplace, as well as to the way in which Fairway's owners have almost completely squandered the consumer good will that it had built up over decades.