BLOOMINGTON - Retail sales have slowed in 2008, but the industry sees hope for the future. Times are hard, but the U.S. consumer is resilient, John Melaniphy, executive vice president of Melaniphy & Associates of Chicago, said Thursday at the International Council of Shopping Centers' Central Illinois lunch.

"There's a lot of doom and gloom out there," Melaniphy said.

The shopping center industry's global trade association presented the forum at Bloomington's Doubletree Hotel & Conference Center to give an overview of retail sales trends. The event also featured panelists who shared expansion plans and provided networking for about 85 attendees.

"Today's crystal ball is a little cloudier than it was a year ago," said event co-chair Michael Mallon of Mallon and Associates Inc., a real estate and development company in suburban Wheaton.

Though Wal-Mart posted a 2.4 percent gain in October same-store sales, business dropped at other retailers.

"Those are some staggering numbers and sobering numbers," Melaniphy said. "It's hard to be upbeat with this kind of news."

Factors that limited retail growth this year include higher gasoline prices, declining home values, increased foreclosures and rising unemployment, he said.

Nationwide, 2,831 stores closed in the first half of 2008, up from 1,522 closures in the same time in 2007. As many as 14,000 stores could close in 2009, he said.

However, the declining cost to fill up at the pump should give people discretionary money, Melaniphy said.

"I see hope at the end of the tunnel," Melaniphy said.

But Christmas also will be a challenge, as Melaniphy & Associates predicts a 1.7 percent sales growth for national holiday sales, down from 2.2 percent in 2007 and the worst in years. But, again, lower gas prices and parents' zeal to satisfy their children give him hope.

"The market will come back," he said. "There are still retailers that are opening stores."

The five panelists proved that point as they discussed development for Aldi, CVS, Jimmy John's, Busey Bank and Verizon.

For example, Jimmy John's recently opened its 770th store and plans to reach 800 by year's end. Next year, it expects to add another 180 to 200 eateries, and hopes one or two of those locations will be in the Twin Cities, said real estate director Chris Newman, based in Champaign.

Operators are ready to launch Twin City restaurants as soon as the opportunity for a location presents itself, Newman said. But lenders make it tough for developers as they require more pre-leased spaces before they'll provide financing, and companies like Jimmy John's don't want to sign a lease until they know a building will be built, Newman said.

"We're going to have a strong push to open at least one next year," Newman said. "If we can find locations for both, that'd be great."