Business Journal: Big Retailers Drop Expansions


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(Sacramento, CA)
Friday, January 25, 2008
Lowe’s has dropped out of plans for a home-improvement store along Highway 99 and Grant Line Road. Wal-Mart might do the same.
 
Also, the long-planned mall next door has delayed its opening. Originally scheduled to open this fall, the developer told the city the project would be finished March 2009.
 
Industry experts aren’t surprised retailers are reining in. With the economic downturn, retail leasing has slowed. Chains are re-thinking expansion. Retailers are also looking to open shop in areas that already have the rooftops to support them. Counting on houses that might be built later has gotten risky.