Yahoo Finance reports that Amazon-owned Whole Foods is considering former and closing Sears and Kmart stores as possible locations as it expands its physical footprint in the US.
According to the story, “Last month, for instance, Whole Foods managers visited a site in Utah that used to host a Kmart store. The store shut down in mid-2017 among its parent company’s financial woes and has been vacant ever since.”
According to the story, “Last month, for instance, Whole Foods managers visited a site in Utah that used to host a Kmart store. The store shut down in mid-2017 among its parent company’s financial woes and has been vacant ever since.”
- KC's View:
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It would be retailing malpractice if Whole Foods didn’t look at all these available spaces. But that doesn’t mean, as some seem to be suggesting, that suddenly there are going to be all these Whole Foods stores in all these locations where Sears and Kmart failed. I suspect that this is a fiction - or, at best, a fantasy - drummed up by real estate people who would like nothing better. But Whole Foods only is going to go into locations that make sense demographically and financially, and a lot of distressed real estate isn’t going to make the cut.
