March 10, 2010

Dollar Tree opening soon at South St and Bellflower Blvd

LAAG has learned that the Dollar Tree store in the old refurbished Vons store should be opening around the latter part of March 2010. [finally] Again not a huge success for Lakewood which has a dismal commercial vacancy rate (from all appearances) but it is better than the horrible eye sore that was the dilapidated Vons store for the last few years. There are 10 open stores within 10 miles of Lakewood currently. Of course we could have had a Trader Joe's market in that location had the city had the guts to tell Safeway to can their lease buyout provision. Apparently its required no food stores at South and Bellflower for years to come for fear of real competition in this poor discount food shopping selection we have in Lakewood. More on that issue as we wrote in August 2009.

According to a February 2010 Wall Street Journal article Dollar Tree Inc.'s fiscal fourth-quarter earnings rose 28% as the discount retailer continues to fare well during the downturn. Apparently its doing well as customers trade down to cheaper goods during the downturn.

The company in December estimated revenue of $1.49 billion to $1.53 billion with a gross margin of 37 percent.

Lakewood Accountability Action Group™ LAAG | | Lakewood, CA
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1 comment:

CK said...

This is really a big, big disappointment. Lakewood has a new Dollar Store to go along with our nearby 99 cent store, Ross, Marshalls, TJ Max, Forever 21 and Nordstrom Rack. I guess we are the "bargain" city!