UM: Business

NPR’s Weekend Edition includes an interview with Chris Leinberger, a University of Michigan professor of practice in urban and regional planning, about what happens to neighboring areas when anchor stores like Borders bookstore close. When asked if there’s an upside to urban stores like Borders closing, Leinberger says: ”Actually yes, because most of the national chains led by chains like Target and Safeway and Whole Foods are all experimenting and implementing urban formats. So, Targets, most of the major grocery chains understand that walkable urban places are very successful, much more profitable than their drivable suburban places. And believe it or not, even Wal-Mart – I’ll believe it when I see it, of course – but even Wal-Mart’s experimenting with urban stores.” [Source]