It’s a classic retail conundrum - do you try to move upscale or downscale?
Not many of the “in-the-middle” stores have survived. Sears and Woolworth’s were once in the DJIA as recently as the 1990’s. Now it’s Walmart.
You’re absolutely correct.
And WM is feeling strong competition from Dollar General and Family Dollar even farther down the scale.
The MSM can talk all day about the “recovery” but the real world contradicts it.