|
|
Article: Kmart's hometown stores more likely to survive ax.(metro Detroit, Michigan)(Brief Article)
- Article from:
- Crain's Detroit Business
- Article date:
- February 4, 2002
- Author:
CopyrightCOPYRIGHT 2002 Crain Communications, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
|
Even as Kmart Corp. targets hundreds of stores for closing, its seems unlikely that many in metro Detroit will end up on the hit list.
Real estate analysts and brokers say that as Kmart and its real estate advisers evaluate each store's performance, rent, location and other factors, stores in metro Detroit should fare well.
Kmart (NYSE: KM) is being defeated nationally by a slew of competitors, led by Target Corp. and Wal-Mart Stores Inc., but locally it has the most stores.
Kmart has 48 stores in metro Detroit, compared with Target's 25 and Wal-Mart's 10.
``Detroit is one area where they are known, they are based, there is no ...