The ICSC Foundation announced Monday that a $500,000 fund seeded by the DeBartolo families, DeBartolo Corp. and DeBartolo Holdings will provide a scholarship for a graduate student in retail, real estate or a related field. Edward J. DeBartolo, who died 20 years ago, built a retail real estate company that grew to include 63 enclosed retail centers and other real estate properties in 23 states.
Efforts by U.S. retailers to open locations tailored to Hispanics have not been successful. Small bodegas and midsize grocery chains offer competition in the market, but Wal-Mart Stores is testing The Más Club in Houston, a Latino-themed warehouse store, as well as Supermercado de Walmart.
High-end children's brands are suffering as parents shop down and save the more expensive clothing for special occasions. Stella McCartney is partnering with Gap for a children's clothing line, and designer Cynthia Rowley is debuting a collection at Babies "R" Us.
Taxpayers might be called upon to rescue the $3.5 trillion commercial real estate market, which has fallen 39% since its peak in 2007. The most likely fix would be an expansion of the Term Asset-Backed Securities Loan Facility by the Federal Reserve to cover commercial mortgage-backed securities. TALF also could work in sync with the Public Private Investment Program to offer relief to the sector.