South Coast founder not worried about predictions

South Coast Plaza founder Henry Segerstrom said Thursday that he expected brisk business at the Costa Mesa shopping center this holiday season, despite nationwide predictions of slow sales in the weeks before the new year.

The National Retail Federation predicted last month that the 2007 holiday season would have the slowest growth in five years because of a credit crunch and a weak housing market. The federation, however, said luxury retailers would be least affected by the slowdown — which would be good news for South Coast Plaza, since the mall specializes in fine jewelers and high-end boutiques.

“We’re very optimistic about Christmas,” Segerstrom said at the Westin South Coast Plaza Thursday, where he had come to deliver the keynote address for the Planning Directors Assn. of Orange County’s annual forum. “Our merchants are going to fill the stores with merchandise, and we’re looking forward to a great Christmas season.”

— Michael Miller