Home Depot Closures Benefitting Local Stores

Photo from source, MSNBC

I'm of two minds about big retail chains. The cons column is quite long. . .cookie-cutter strip malls, lack of choice, and driving Mom & Pops and downtowns out of business, along with a distressing amount of corporate conglomeration and consolidation. In the pros column? Familiarity, price, convenience. I shop at many, and surely you do too. But we sometimes feel a little guilty about it.

So in this time of economic instability, it is a little surprising to see the Bush (don't call it a) recession is having a dramatic impact on these huge powerhouses. Ann Taylor, Sharper Image, Disney, Linens 'n' Things, and others are shuttering stores all over the country. Also in that group is Home Depot, though they haven't been hit quite as hard as the others. And in this case, there is another intriguing difference. . .

[Excerpt]

In one town, local stores outlast Home Depot

When a Home Depot set up shop across the street, Fireside True Value hardware store owner Wayne St. John knew it would probably take some of his customers away. [snip]

Four years later, it's Fireside True Value that's still standing.

"I've had a lot of customers come in and say `You guys put them under," said St. John.

Read more at: MSNBC