NEW YORK CITY-These days, value is the main component for retail success – just ask Olive Garden or Wal-Mart. Those are the chains continuing to succeed in the current downturn, according to analysts speaking at the Standard & Poor’s second annual Retail and Consumer Products Conference, held on Monday here. But capital expenditures will be down for nearly all, as they focus on conserving cash. And they should keep a careful eye on customer traffic. “Companies have and will continue to cut back on capital spending on new store building,” said Gerald A. Hirschberg, a director at Standard & Poor’s. “They would be better served to put those dollars into existing stores. There will be a lot of that.” This year, S&P has upgraded Safeway, Saks, Sotheby’s and Gamestop among others, while downgrading Macy’s, Darden, Whole Foods,...
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