Another example of wall street beating up on main street
Well played Mitchell, well played.
Well I prefer my independent local shop anyways.
so what does all this mean for the stores?
wowwowow wrote:
so what does all this mean for the stores?
Finish Line execs say they are aware of the challenges it will face in the specialty business and will make every effort to maintain the culture of run specialty. “Key members of the chain’s management team and store leadership will remain in place following the acquisition. Finish Line also plans to keep the stores operating under their current banners and will retain the culture and outstanding customer service that have made them successful,” Finish Line said in its statement announcing the deal.
“We have a tremendous growth opportunity within the specialty running business with this acquisition as the foundation of that growth. We plan to expand the number of stores and develop this chain’s first e-commerce capability as well as pursue other potential acquisitions in the specialty running business. The dedicated team we have in place to drive growth outside of our core business will focus on maximizing this opportunity, which clearly leverages our company’s strengths and core competencies.”
afasdfafsd wrote:
Well I prefer my independent local shop anyways.
I don't know what the other Running Co's were like, but the one in NYC had a very corporate retail chain feel. So I don't think this will change things much. Probably the manager will have to work more hours for the same pay, employees will probably make a bit less, or be reduced to part time. This is just the beginning. All the successful running stores are gonna be bought up over the next few years. Footlocker has entered the game already with Run in NYC.
So store owners are gonna get a big buy out, or have to really up their game.
add that to the plans for TSA Elite and the continued brick and mortar expansion of Road Runner. The old independents are going to have a tough road over the next 5 years
If you own and operate a store wouldn't the goal to be to grow the store to the point where some buys the business for a big ol' chunk of cash?
If you really just love going to work every day and fitting people in running shoes you can still do that after you sell your store for big bucks.
That is because Footlock pays half the taxes the smaller store does
the SA Elite stores aren't bad, we have one here in Denver.
Of course we also have Runner's Roost just down the road and those guys know their stuff and no reason to go elsewhere..
I can at least see the Elite concept taking off where there may not always be a good specialty store in the area and provides the opportunity to actually try stuff on... but most people will probably order from RunningWarehouse anyway