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ATL96Steeler
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http://www.bizjournals.com/phoenix/...th-files-chapter-11-bankruptcy-closing-2.html
To be clear, this appears to be a Chptr 11, to get rid of underperforming stores, and I assume that includes the one close to my office (that entire retail sector is going down).
I was in retail mgmt for 9+ yrs and spent 3 yrs in the corp office as a buyer...I never felt big box golf would work...my stores were in malls and we paid $150 to $200 psf, but we generated something like $350 psf so the chain thrived in locations that were about 2000-2500 sf on avg.
Granted, Golfsmith and PGA Superstore were not in malls so I'm sure they were paying much less than $150 psf, but with locations that were 10,000 to 20,000 sf...unless you're Walmart, that concept simply is not sustainable long term.
Edwin Watts has gone thru some changes as well, but they have the right model for golf retail....10 yrs from now I think we'll see the golf retailers circle back to stores under 5k sf.
In the meantime I will scoot over there this week and see what kind of deals they have.
To be clear, this appears to be a Chptr 11, to get rid of underperforming stores, and I assume that includes the one close to my office (that entire retail sector is going down).
I was in retail mgmt for 9+ yrs and spent 3 yrs in the corp office as a buyer...I never felt big box golf would work...my stores were in malls and we paid $150 to $200 psf, but we generated something like $350 psf so the chain thrived in locations that were about 2000-2500 sf on avg.
Granted, Golfsmith and PGA Superstore were not in malls so I'm sure they were paying much less than $150 psf, but with locations that were 10,000 to 20,000 sf...unless you're Walmart, that concept simply is not sustainable long term.
Edwin Watts has gone thru some changes as well, but they have the right model for golf retail....10 yrs from now I think we'll see the golf retailers circle back to stores under 5k sf.
In the meantime I will scoot over there this week and see what kind of deals they have.
