Troubling news for Walmart ... 'same-store sales' continue to decline.
The article link and chart posted below demonstrate yet again why a Walmart Supercenter is not a good fit for Arvada.
Since not many local residents will shop Arvada Walmart, that means 'same-store sales' will be very low or nonexistent for a store on Ralston Road. A bad deal for Walmart, uh?
The Arvada Urban Renewal Authority (AURA), the City Council and developer IRG may have been desperate to find a tenet for the Arvada Plaza site, but Walmart has turned out to be a 'pig-in-a-poke' for them. Arvadans don't want a Walmart in the Plaza and the dirty site means bad publicity ... subsequent lingering doubt about environmental safety in the area will only make future redevelopment more problematic.
(Pursuing Walmart also shows just how chronically stuck in the last century is the Arvada governing class: Walmart is a fading retailer; beltways are now considered retrograde; believing no one cares about residential development next to a nuclear site is backward; futuristic urban transportation is going to be automated and personal -- not anchored on 19th century technology; forcing high density housing is right out of Charles Dickens; centralized government planning is a proven failure; etc.)
Furthermore, as the financial and market problems for Walmart grow, as indicated in the report linked to here, the $5.8 million government giveaway to Walmart/IRG from the Arvada taxpayer is going to be just a drop in the bucket for what they really need. In other words, the government pay-off to Walmart/IRG isn't going to be enough and Arvada taxpayers are starting to get fed-up with AURA and City Council corporate welfare.
If instead of cronyism we had genuinely bold, creative and honest leadership in Arvada, we would see a preemptive termination of the Walmart 'deal' and a truly citizen-initiated plan for the Arvada Plaza formulated.
Forward looking leadership would get ahead of the curve and make the decisions now for the moment when Walmart finally decides that this planned store is going to be a bust for them and they move-on.
After revolutionizing and then dominating retail for over five decades, Wal-Mart may finally be succumbing to the same fate as former retailing legends such as Woolworth's and Montgomery Ward.
While it's too early to make a definitive prediction, there's nevertheless one indisputable reason to believe that Wal-Mart's best days are behind it: Same-store sales at the retail giant have dropped in 14 out of the last 21 quarters. ...
... arguably the first time in the last few decades, Wal-Mart is facing legitimate (some might even say "superior") competition from the likes of Amazon.com and Costco.
And along these lines, it's also worth noting that Wal-Mart hasn't done itself any favors. Over the past few years, it's continued to foster a reputation for exploiting workers, gotten bogged down in a bribery scandal in Mexico, and has even struggled to keep its shelves stocked with merchandise.
Whether these struggles are enough to tip the inevitable scales of progress and innovation against it remains to be seen. But things certainly don't look good.