business news in context, analysis with attitude

Bloomberg Businessweek has a story about Wegmans - a company that it describes as one that “punches well above its weight, combining the product breadth of a Walmart, the quality of a Whole Foods, and the quirkiness of a Trader Joe’s” - and how it will open its first New York City store this fall.

If you can make it there…

The 74,000-square-foot store “at the Brooklyn Navy Yard, in a long-ignored tract of the former military base called Admiral’s Row … will be a big test of whether Wegmans can duplicate the phenomenal success it’s had in smaller locales in the crowded New York market.”

An excerpt:

“Brooklyn presents a huge opportunity for Wegmans: the 2.8 million people who live within 5 miles of the Navy Yard, with an average household income well above $100,000. But there are serious challenges, too. Big, crowded cities aren’t conducive to Wegmans’s sprawling stores. The Navy Yard is isolated, a food desert abutting a public-housing project, and is cut off from most of the borough by the Brooklyn-Queens Expressway. And New York City’s grocery scene is a hyper-competitive mix ranging from bodegas and street-corner produce stands to local chains … that have more experience with the hefty and rising operating costs that have eaten away at area grocers’ margins.”

You can read the entire story here.
KC's View: