Retail sales were down 2.7% in November compared with last year as wary consumers reduced credit card purchases despite retailers' best efforts to entice them with discounts and other promotions. The Federal Reserve hopes to stimulate the credit market with a $200 billion plan in February.
Safeway plans to aggressively cut costs and prices in 2009, CEO and Chairman Steve Burd told investors. The company plans to dial back capital investments and find other ways to reduce costs, such as controlling energy spending through strategic arrangements.
Many of the winners of ICSC's International Design & Development Awards were from Eastern Europe, including three from Poland. Overall, projects from 12 countries won awards at the CenterBuild conference in Arizona.
Cedarwood Development has slowed construction on the Wal-Mart-anchored Easley Town Center in South Carolina. The $82 million, 500,000-square-foot center, which was originally supposed to open in late 2009, is now slated to open sometime in 2010.
Southern Family Markets stores in Decatur, Ala. -- affiliates of C&S Wholesale Grocers in Birmingham -- will be known as Piggly Wiggly starting Wednesday. Two Southern Family Markets in Athens, Ala., changed their banners to Piggly Wiggly in October.