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Can Costco Save America's Malls?

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Filed: Timeline

Costco talks about some interesting trends in this downturn. From Costco Wholesale Corp.'s FQ109 conference call:

For once, a positive sign for malls:

We continue to think that there’s plenty of opportunity in the US and Canada. We think that, our bet is if we’re in six or seven malls right now, and when I say we’re in malls, we’re usually in the parking lot with a breezeway entrance into the mall. In some instances, one example would be in Atlanta Cumberland Mall, they literally, the mall owner tore down I think it was the JC Penny and then we redid the parking lot and we have a gas station and a full Costco with no direct attachment other then a breezeway into the mall.

But no doubt we’re there because we bring destination shoppers of high end to that mall and its been a great location for us in terms of somewhere we weren’t invited to even come to the party. And so I think you’re going to see more of that going forward in many parts.

We think there’s some more real estate opportunities coming down the road over the next several months but that being said, trying to predict what’s going to happen eight, nine months from now is very hard right now.

TV’s, LCD's:

If you go onto Costco.com you can see that we’re selling two packs of flat screen televisions for less then $1500 for the both of them and so we’ve seen a lot of, notwithstanding what’s going on in the economy and with big ticket items we have taken an advantage of an opportunistic and going to vendors that have been stuck with inventory when other cancellations have occurred elsewhere and taking advantage of that.

For restaurants, grocers and meatpackers, demand for meat declines, prices too:

A year ago New York steaks were $7.99, they’re now $5.99, that’s all because of a lower demand… The only shift I’ve seen is is there’s been some shift from meat to poultry and things like that, but that’s not just in the last month, that’s been, and we’ve seen anecdotally in our food court we’ve seen a huge jump in take-home cooked pizzas.

People I think instead of eating out are coming to supermarkets and to Costco to have dinner.

http://seekingalpha.com/article/111006-can...america-s-malls


Man is made by his belief. As he believes, so he is.

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I love Costco. Executive membership has it's privileges.


"The fact that we are here today to debate raising America’s debt limit is a sign of leadership failure. It is a sign that the U.S. Government can’t pay its own bills. It is a sign that we now depend on ongoing financial assistance from foreign countries to finance our Government’s reckless fiscal policies."

Senator Barack Obama
Senate Floor Speech on Public Debt
March 16, 2006



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Filed: Citizen (apr) Country: Colombia
Timeline

Malls were never a good idea when it takes over an hour just to go in to buy a loaf of bread. So typical of any mall store to more than double the price then offer it for a mere 50% off, are people really that dumb? Can find many of the same items at our local stores for a fraction of the price, even after that huge savings they offer. And why not, in helping one of my kids that was interested in opening a mall store, the rent they charge can be as high as five bucks a square foot per month? Would have to sell a whole bunch of stuff just to pay the rent.

Wife and I spent hours looking in the Mall of America, not a special trip, only a couple of blocks away from our USCIS office, did a lot of looking, but didn't spend a cent. Well did get some refreshments, paid more for that than a full meal at our home restaurants, not place to get ripped off.

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Malls were never a good idea when it takes over an hour just to go in to buy a loaf of bread.
And (in the case of West Edmonton Mall), only incrementally longer to buy all your home furniture and a vehicle (not joking: WEM actually does contain dealerships)

So typical of any mall store to more than double the price then offer it for a mere 50% off, are people really that dumb? Can find many of the same items at our local stores for a fraction of the price, even after that huge savings they offer. And why not, in helping one of my kids that was interested in opening a mall store, the rent they charge can be as high as five bucks a square foot per month? Would have to sell a whole bunch of stuff just to pay the rent.

Wife and I spent hours looking in the Mall of America, not a special trip, only a couple of blocks away from our USCIS office, did a lot of looking, but didn't spend a cent. Well did get some refreshments, paid more for that than a full meal at our home restaurants, not place to get ripped off.


2005/07/10 I-129F filed for Pras

2005/11/07 I-129F approved, forwarded to NVC--to Chennai Consulate 2005/11/14

2005/12/02 Packet-3 received from Chennai

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2009/07/03 10-year GC received; last 0.5 done!

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2009/11/16 My 46TH birthday, Pras N-400 approved

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As long as the LORD's beside me, I don't care if this road ever ends.

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Filed: Citizen (pnd) Country: Mexico
Timeline

who the eff goes to a mall to buy bread?? who goes to a mall to buy groceries?


El Presidente of VJ

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tu eres mi vitamina del pecho mi fibra

tu eres todo lo que me equilibra,

un balance, lo que me conplementa

un masajito con sabor a menta,

Deutsch: Du machst das richtig

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Filed: Citizen (apr) Country: Colombia
Timeline
who the eff goes to a mall to buy bread?? who goes to a mall to buy groceries?

Every grocery store we hit in Venezuela was in a mall, and if that wasn't bad enough, had to pay to park there.

Ha, is this board limited to the USA, UK was covered already, but the are the same all over, wife loves them, my attention span is only about five minutes, know what I am looking for, buy it, and get out, if they have it.

Our mall did have video rental store, he only lasted a year when his lease was up, everybody was complaining, took a half a day to drop off rentals.

An ideal mall for me would be one with no clothing or shoe stores, LOL. An ideal store wouldn't have a single bubble pack on the shelves, hate those with a passion.

Found a couple of pair of Dockers men's slacks at my local Shopko store, regular price was 25 bucks with 40% off paid 15 bucks each for them. Found an identical pair at a mall clothing store, regular price was 60 bucks with 35% off, you save 21 bucks! But can get an additional 10% off if you use that stores credit card, or only $35.10 a pair, that's a bargain?

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Malls were never a good idea when it takes over an hour just to go in to buy a loaf of bread.
Who's the genius who goes into a mall to buy a loaf of bread?
What if the nearest supermarket basically has opening onto mall?

(we happened to live walking-distance from one such mall in NW Calgary; contrary to NickD's opinion, it rarely took us one hour to buy a loaf of bread--the exception was if you happened to shop on Friday nights, in which case the cashier lines COULD get that long).


2005/07/10 I-129F filed for Pras

2005/11/07 I-129F approved, forwarded to NVC--to Chennai Consulate 2005/11/14

2005/12/02 Packet-3 received from Chennai

2005/12/21 Visa Interview Date

2006/04/04 Pras' entry into US at DTW

2006/04/15 Church Wedding at Novi (Detroit suburb), MI

2006/05/01 AOS Packet (I-485/I-131/I-765) filed at Chicago

2006/08/23 AP and EAD approved. Two down, 1.5 to go

2006/10/13 Pras' I-485 interview--APPROVED!

2006/10/27 Pras' conditional GC arrives -- .5 to go (2 yrs to Conditions Removal)

2008/07/21 I-751 (conditions removal) filed

2008/08/22 I-751 biometrics completed

2009/06/18 I-751 approved

2009/07/03 10-year GC received; last 0.5 done!

2009/07/23 Pras files N-400

2009/11/16 My 46TH birthday, Pras N-400 approved

2010/03/18 Pras' swear-in

---------------------------------------------------------------------

As long as the LORD's beside me, I don't care if this road ever ends.

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So typical of any mall store to more than double the price then offer it for a mere 50% off, are people really that dumb?

Yes. Wizards first rule: People are stupid. People will believe a lie because they want to believe its true, or they are afraid it might be.

Given proper motivation, almost anyone will believe almost anything. Because people are stupid, they will believe a lie because they want to believe its true, or because they're afraid it might be true. Peoples' heads are full of knowledge, facts and beliefs, and most of it is false, yet they think it all true. People are stupid; they can only rarely tell the difference between a lie and the truth, and yet they are confident they can, and so are all the easier to fool. :lol:


R.I.P Spooky 2004-2015

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