Originally Posted by
mugofbeer
It just makes me laugh each time I read another story about an urban grocery store and "just not enough rooftops to support it." No, I don't live in an urban area but suburban. Within 2 miles of my house I have 5 (count them, FIVE) locations of the same King Soopers (Kroger) grocery chain. On top of that, there is a Safeway, an Albertson's, a Sprouts and a huge Whole Foods. This is an area with middle to upper middle incomes but there are NOT 20-30 times the households in the area I live in than are within 2-3 miles of 18th and Classen.
My guess is the issue with Homeland boils down to income demographics. There are plenty of rooftops and plenty of shoppers but the Homeland management thinks they are mainly the lower middle-incomers and (* * whisper, look around - minorities * * ) are going to buy mainly the essentials with low profit margins and not enough people in the area with enough discretionary money to buy the higher margin items.
My guess is that if Homeland sunk a few million into a quality remodel and even an expansion, it would be like the Whole Foods up near Chesapeake. The management of the chain mistakenly thinking people in Oklahoma City are too value oriented so they have to wait for an incentive to put in a store. From what I understand and have seen, that Whole Foods is very busy and successful. I bet with the growing population in and near downtown, residential projects under construction and proposed, Homeland would be very successful. Its like the movie, "If you build it, they will come."
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