A local investment group is taking control of West Broad Village in western Henrico County. This shows the status of tenants in most of the commercial part of the 115-acre development. The planned residential part includes apartments over some retail stores and 525 single-family town houses to the south and west of the commercial area, only 15 percent of which have been built.

Chester-based Southside Oil LLC has bought 172 Exxon retail gasoline stations, mainly in Maryland, more than doubling the company’s retail operations. The privately held company did not disclose the terms of the sale. Southside Oil is a wholesale gasoline distribution company owned by Steven and Linda Uphoff. The Uphoffs also operate 42 Uppy’s Convenience Stores Inc. locations in Virginia. They own the property where 67 other BP and ExxonMobil gas stations are, but they don’t operate those stations.

American shoppers are splitting again: The affluent are finally starting to buy, picking up designer clothes at such places as Nordstrom, while those on the lower economic rungs are still scrimping by, heading to Wal-Mart for the basics. Recent earnings reports from major retailers suggest that the wealthy, who pulled back their spending the hardest during the financial meltdown last fall, are once again being enticed to open their wallets and going back to higher-end outlets.

Wal-Mart Stores Inc. raised its annual profit outlook on Thursday, after it reported a 3.2 percent increase in third-quarter profits helped by cost-cutting measures like slashing inventories.

Robotic toy hamsters, the latest Barbie dolls and stylish boots are disappearing from store shelves as holiday shoppers start to get serious. But don’t confuse this with the days of Tickle Me Elmo. Instead of a throwback to great buying binges of the past, the empty shelves are just another sign of bad times. The shortages come from stores that are terrified of ordering too much and are keeping their inventories thin.

October’s retail sales results, the best performance since April 2008, show that Americans are spending a little more. But will they be willing to pay full price this holiday season? Stores are heading into the period with slashed inventories, determined not to have the fire sales that characterized last Christmas. But shoppers still are facing tight credit and a weak job market and might wait for fat discounts or not buy at all. That game of chicken will determine the holiday winners and losers.

NEW YORK Some of fashion’s best-known names are playing musical chairs. Faced with a consolidating department store industry and eroding sales, some labels are cutting ties with retailers that sold their clothing and betting their future with one chain. Liz Claiborne Inc.‘s announced last month that it’s moving its namesake line to J.C. Penney Co. from Macy’s Inc. Other stores have made similar moves with other major brands, like Tommy Hilfiger and Dana Buchman.

Macy’s shoppers across the Richmond area will be able to raise money for local nonprofit organizations as they earn discounts for themselves at the department store chain’s annual “Shop for a Cause” event tomorrow. The chain partners with nonprofit organizations that sell passes entitling customers to receive discounts. The nonprofit groups sell the passes for $5 and keeps 100 percent of the money. The passes are also sold at Macy’s stores, with the $5 going to charity.

Shockoe Bottom store specializing in contemporary furniture has carved a national reputation. Owner says “good design should stand the test of time.“

NEW YORK The world of high fashion is coming down to earth a bit. Trenchcoats, jumpsuits, sumptuous sweater sets and billowy dresses intended to flatter a wider range of body shapes and sizes ruled the runway at New York Fashion Week, which showcased spring 2010 designs for buyers and fashion editors. It’s a big departure from the elaborately beaded evening gowns and unwearable flights of fancy (think: see-through pants) that have dominated runways in recent years.

Compulsive buyers drawn to Internet Compulsive buyers prefer the fast, secret thrill of shopping on the Internet rather than in bricks-and-mortar stores. They don’t want anyone witnessing their obsessive behavior, said University of Richmond researchers Monika Kukar-Kinney, Nancy M. Ridgway and Kent B. Monroe. The findings of their survey of 314 customers from 42 states, all customers of one e-retailer, appear in the September issue of the Journal of Retailing.

Best Buy Co., the largest U.S. electronics retailer, said second-quarter results fell below expectations as sales at established stores fell.

The Great Recession and Americans’ retreat into thriftiness are teaching retailers a new lesson: How to survive when consumers are focused on “needs” rather than “wants.“ For years, shoppers splurged on everything from $5 lattes to $200 jeans, and retailers responded by opening more stores and offering more choices. Now, beset by high unemployment and limited access to credit, shoppers are limiting most of their purchases only to essentials or the best deals.

Empty storefronts line the main portion of the project, which includes space for shops, offices, apartments and homes. Walking through the development, residents and visitors are struck by the emptiness.

The retail portion of West Broad Village has struggled. Some retailers and restaurants have pulled out; others want to set up shop but not just yet. Still, HomeGoods, REI and other retailers plan to open stores there in the coming months.
  1. Day-care center (planned)
  2. Dave & Buster’s (open)
  3. Mimis Café (open)