Grocery, Wal-Mart Will Anchor Shopping Mall
In a vote reflecting the economic reality of the ‘90s, Cerritos officials have given up any hope that Ralph Lauren or Neiman-Marcus will set up shop in the city. The City Council Thursday night agreed to a plan to anchor the Cerritos Towne Center shopping mall with a Smith’s grocery store and a Wal-Mart.
The narrow 3-2 vote was disappointing to many Cerritos residents, even if Wal-Mart, the Arkansas-based mass merchandiser, has become the nation’s largest retailer.
Last year, a group of economic consultants hired by the council said Cerritos’ population area is not well-heeled enough to support upscale fashion retailers, although Smith’s Food and Drug Centers, a Utah-based chain, is regarded as upscale in its field. The consultants also said that the nation’s high-end department stores have been hard hit in recent years by mergers and slumping sales and are not expanding.