Gross Taxable Retail Sales – October
- The “Top Ten” represent 44% of the State-
- The “Top Twenty-Five” represent
2/3rds of all retail sales.
- State-wide March
increases were 13.4%
- The “Top 20%” gainers
- South Jordan +69.9%
- Lehi +49.9%
- Vernal +35.7%
- American Fork +24.1%
- The “Bottom 10%” include:
- Blanding -
- Montecello -11.5%
- Springdale -7.6%
October 06 Retail Sales – Top 25 Cities
(Large Monthly Filers Only)
||City||October 2006 (000)
||% Change 06/05||Mkt Share
October 06 (% of State Total)|
- The “Top 5” Major Sectors represent 50% of
- State-wide October increases were
13.4% - The “Top 5” gainers
- Construction +76.2%
- Services - Health +60.6%
- Retail Misc. Sales +34.5%
- Transportation +29.6%
- Wholesale Durable Goods +29.2%
- Categories with declining sales were led
- Private Vehicle Sales -44.0%
- Mining -19.5%
- Services - Education -19.5%
Source: Utah State Tax Commission
Mall Shooting Spree Raises Security
In perhaps the deadliest incident ever at a U.S.
mall, six people were killed Monday at Trolley Square,
a 239,000-square-foot mall in Salt Lake City owned
and managed by real estate investment firm
ScanlanKemperBard (SKB) Companies.
Sulejmen Talovic, 18, entered the mall with a .38
caliber pistol, a shotgun, a backpack full of
ammunition and a bandoleer of shotgun shells. He
walked through the center firing randomly and killed
five and wounded four before being fatally shot by
police. The incident could have been a lot worse if off-
duty police officer Kenneth Hammond had not been at
the property. Armed with a .45-caliber handgun,
Hammond exchanged fire with Talovic and held him at
bay until the local SWAT team arrived. Talovic was
killed in the ensuing gunfight.
Mall security, however, seems to not have played a
role in stopping the shooting.
But if it’s like most of the industry, security guards
at the mall were probably under-paid, under-trained
and ill-equipped to deal with the incident.
“Some shopping centers will just hire two guard
service people to patrol the property and don’t really
give them any direction; they just tell them to wander
around the area,” says Chris McGoey, founder of Los
Angeles-based McGoey Security Consulting and
publisher of retailtrafficmag.com/DOJreport.pdf">“An
Assessment of the Preparedness of Large Retail
Malls to Prevent and Respond to Terrorist Attacks”,
shows that filling mall security guard positions
remains a low priority. A survey of 120 mall security
directors indicates that 60.2 percent said that training
for security staff at their center has not improved since
9/11 and another 94 percent said that there was no
change in hiring requirements for security officers.
Security guards typically earn between $8.50 and
$14 an hour, McGoey says. “Plus, security officers get
a lot of verbal abuse, some people can’t stand on their
feet all day long and some aren’t comfortable with
confrontation,” McGoey says.
The Department of Justice report found that less
than one in 10 centers had any age requirements for
the job. A little more than 4 percent of respondents
require that applicants be at least 18 years of age; 3.6
percent request that applicants be 21. In addition, less
than 47.1 percent of those surveyed required a high
school diploma or a higher level of education, and
even fewer (12.7 percent) required previous
experience in security, military service or law
“We would all like to have the best qualified
people for the job, but the pay scale that exists does
not allow us to hire the best people and there is a
limited group of [candidates] who can do this job,”
says Jonathan Lusher principal consultant and
executive vice president with IPC International Corp., a
Bannockburn, Ill.-based security firm Lusher.
Malls have seen a rash of high-profile incidents
lately. Two young men have been arrested and
charged for a fatal shooting that occurred at the
Boynton Beach Mall in Florida on Christmas Eve. The
alleged gunman, witnesses said, fired at least six
bullets before they cornered and arrested him in the
women's department of Dillard's. The second man
has been charged as an accessory after the fact and
resisting an officer without violence. The mall was
evacuated and closed. It reopened the day after
Source: Retail Traffic
Entry Level Economic Developer Looking for
- BS degree in Economics; Brigham Young
- Cluster studies in Korean and Business
- Built advanced Excel models used for research
organization, data gathering, and analysis
- Familiar with Linear Regressions, Solver, Data
Tables and Pivot Tables in Excel
- Strong business writer and presenter with
experience in Excel, PowerPoint, and Word
- Leader and team member on research and
- US Senate Intern; The Honorable Larry Craig (ID);
|Tesco - Green Strategy for US
Tesco, the UK supermarket chain, is to wrap itself
emphatically in green as it enters the US grocery
market this year, overtaking even leading organic and
natural competitors in its enthusiasm for the colour.
The retailer will launch a network of
small “neighbourhood market” stores under a green-
shaded “Fresh & Easy” logo, abandoning both the
name Tesco and its traditional corporate colours of
red, white and blue.
About half of the facade of the new Fresh & Easy
stores will consist of a green panel surrounding high
windows, according to plans seen by the FT (see
Tesco’s enthusiasm for the colour out-greens
both Whole Foods Market and Wild Oats, the more
upmarket leading US organic and natural grocers.
Green also dominates on Tesco’s
freshandeasy.com US corporate website, and colours
the new business cards of its US executives.
Tesco says the US store format “is dedicated to
environmentally friendly business practices”.
It is adding solar panels to some of its stores and
it has announced plans to build a $13m solar panel
array to provide power for its distribution centre being
built in Riverside, California, which is believed to be
the world’s largest.
At a store level, “waste will be minimised by
recycling or reusing all shipping materials and energy
consumption will be reduced with modified fridges
and lighting”, it says. And in what may be an optimistic
gesture, some of its stores in car-obsessed Los
Angeles will feature bicycle racks by the main
Sir Terry Leahy, Tesco’s chief executive, last
month set out ambitious targets for the retailer on
carbon emission transparency and other issues,
noting that the US operation “is also placing a big
emphasis on reducing energy and carbon emissions”.
The company is planning scores of stores in
southern California, Arizona and Nevada. With about
10,000 sq ft of sales space, the stores will be about a
third of the size of even the smallest traditional US
supermarkets, offering a focused selection of fresh
and packaged food in an easy-in-easy-out format.
Tim Mason, head of Tesco’s US operation, said
the stores, located close to high-density housing, had
been “designed to draw customers back to their local
Tesco has yet to say how many stores will be in its
first wave of openings. However, it has applied for
licences to sell alcohol in more than 40 locations in
the three states.
Tesco’s stress on sustainability mirrors a similar
push by Wal-Mart, the largest US retailer, which is
seeking proposals for a potentially massive solar
power project covering stores in five states.
Whole Foods, Staples and Walgreens are also
pursuing solar power initiatives at their stores.
Source: The Financial Times Limited 2007
- International Trade (FT900)
- The nominal U.S. trade deficit in goods and
services widened by 5.3% in December. The U.S.
trade deficit came in at $61.2 billion, $3.1 billion more
than November's revised $58.1 billion, according to
the Bureau of Economic Analysis. In December, both
exports and imports increased, while imports
increased more than exports. The goods deficit with
China, however, narrowed 17.1% to $19.0 billion.
Crude oil prices increased in December, which in turn
increased the nation's total import bill for energy-
related petroleum products to $20.9 billion.
- China surpassed Mexico as the second-largest
U.S. trading partner in 2006, according to a Feb. 14
report by the U.S. Commerce Department. The U.S.
trade deficit with China -- now a record $232.5 billion --
was around 30 percent of the total $763.6 billion trade
deficit. Many members of the Democratic-controlled
Congress blame China's currency practices and
government subsidies for the increasing deficit, and
will increase pressure on the Bush administration to
- MBA Mortgage Applications Survey
- Mortgage demand increased 1.5% in the week
ending February 9. Purchase applications decreased
1.0% and refinance applications increased 4.5%. The
market is flat, but weather and timing suggest the real
story will not be revealed until the end of the month.
- Treasury Budget
- The unified surplus for January was $38.2 billion,
slightly smaller than the CBO’s preliminary estimate
of a $40 billion surplus. The federal government has
run a deficit of $42.2 billion through the first four
months of fiscal year 2007; this is 57% smaller than
the deficit at the same point in fiscal year 2006.
- Treasury International Capital Flows
- Total net foreign purchases of long-term U.S.
securities in December was $15.6 billion, from a
revised $68.4 billion in November. However, on
balance, there was a total net outflow from U.S.
assets worth $11 billion, which was the first net sell-
off since June 2005. This is significantly lower than
the average through 2006 and suggests that there
may be some moderation in appetite for U.S. assets.
- Risk of Recession
- The Moody’s Economy.com probability of
recession dipped in January to 15%, from
December’s downwardly revised 20%. Further
improvements in equity markets and consumer
confidence in January helped depress recession
risks. Unemployment insurance claims have also
moderated some. The yield curve remained inverted
in January, although the spread narrowed some, and
average hours worked slipped. The chance of the
economy being in recession in six months remains
elevated but modest.
- NAR Metro Prices
- Reflecting the fourth quarter y/y decline in the
national median price, house prices are depreciating
in nearly half of the metro areas covered by the NAR’s
regional sales release. Topping the list are Florida
MSAs, with double-digit declines of near 20% in
Sarasota and Palm Bay. Sales are also slowing
considerably, with half of the states posting a 10% or
greater decline in existing home sales.
- NAHB Housing Market Index
- Homebuilder optimism increased five points to 40
in February. Overall, the index is up noticeably in every
component, but traffic of prospective buyers is still only
- Chain Store Sales
- Chain store sales fell 0.8% in the week ending
February 10, according to the ICSC. Year-over-year
growth dipped to 3.9%, the slowest growth since the
start of January
- Retail Sales (MARTS)
- Total retail sales were unchanged in January,
below expectations. Non-auto sales rose 0.3%, closer
- Business Employment Dynamics
- During the second quarter of 2006, the economy
created 7.8 million jobs at new and expanding
establishments, while 7.3 million were lost at closing
and contracting establishments. More jobs were
created but more were also lost than in the previous
quarter. The gain rate rose to 6.9% from 6.7%, but
was lower than in 2005. However, the loss rate,
though higher than in the first quarter, was also lower
- Oil and Gas Inventories
- Crude oil inventories declined by 0.6 million
barrels for the week ending February 9, according to
the Energy Information Administration. Distillate
inventories fell by 3 million barrels, less than
expected. Gasoline stocks fell by 2 million barrels,
also below expectations. Refinery activity weakened
further last week. The report will put some bearish
pressure on energy
- Weekly Natural Gas Storage Report
- Underground storage of natural gas decreased by
259 billion cubic feet during the week ending February
9. This was slightly larger than expectations calling for
a 253 Bcf draw. Inventories are now 14.7% above the
five-year average. This report is likely to have a neutral
to modestly bullish effect on prices
Source: Economy.com, Financial Times
|This Weeks Leads:
- Amazing Jake’s
- Amazing Jake’s / Newmark Entertainment trades
as Amazing Jake’s.
- The two-unit chain operates
locations in Mesa, AZ and Aurora, CO.
- The family-
themed restaurant and entertainment concept
occupies a space of 60,000 sq.ft. to 85,000 sq.ft. in
freestanding locations, malls, lifestyle and power
- Plans call for 20 to 25 openings
nationwide during the coming 18 months.
- Aaron Browning,
- 95 Enterprise, Suite 340,
- Aliso Viejo,
- 949-305-4800 Ext. 107,
- Fax 949-
- Web site:
- Weyco Group, Inc. trades as Florsheim.
32-unit chain operates locations throughout CA, FL,
GA, IL, LA, MA, MD, MN, NJ, NV, NY, PA and TX.
The stores, selling high end men’s shoes and leather
accessories, occupy spaces of 1,250 sq.ft. to 1,500
sq.ft. in malls and outlet centers.
- Plans call for
five openings nationwide during the coming 18
- Typical leases run 10 years.
Competition is cited as Johnson & Murphy.
- Tim Then,
- Weyco Group,
- 333 West Estabrook Boulevard,
Dale, WI 53212;
- Fax 414-908-
- Planet West
- Glamour West, Inc. trades as Planet West.
The 23-unit chain operates locations throughout CA.
- The beauty supply stores occupy spaces of 1,400
sq.ft. to 1,500 sq.ft. in malls, power, specialty and strip
- Growth opportunities are sought
throughout the existing market during the coming 18
- ypical leases run five years. A vanilla
shell and specific improvements are required.
Preferred demographics include a population of
20,000 within one mile earning $70,000 as the
average household income.
- Competition is cited
as Pure Beauty.
- For details, contact
- Glamour West, Inc.,
Red Hill Avenue,
- Costa Mesa, CA 92626;
- Fax 949-752-1887;
- Web site:
- The Bombay Co.
- The Bombay Co. operates 500 locations
nationwide and in Canada.
- The home furnishings
and accessories stores occupy spaces of 4,500 sq.ft.
to 9,000 sq.ft. in lifestyle, outlet, specialty and strip
- Plans call for five to 10 openings
nationwide and in Canada during the coming 18
- Typical leases run 10 years.
more information, contact
- Paul Myrick,
- 550 Bailey Avenue, Suite 700,
- Fort Worth, TX 76107;
- Web site:
- Giffords Ice Cream & Candy Co.
- Giffords Ice Cream & Candy Co. operates four
locations throughout Washington, DC.
- The ice
cream and candy stores occupy spaces of 750 sq.ft. to
1,400 sq.ft. in lifestyle and entertainment centers.
- Plans call for 10 to 15 openings throughout
existing markets during the coming 18 months.
- The company is in the early stages of franchising
and plans an expansion in the Mid-Atlantic region after
- For more information, contact
- Neal Lieberman,
- Giffords Ice Cream &
- 8810 Brookville Road,
Springs, MD 20910,
- 800-708-1938, 866-217-
- Web site: www.giffords.com.
- Black & Decker Factory Outlet
- Black & Decker U.S. Inc. trades as Black & Decker
- The 34-unit chain operates
- The home improvement
stores occupy spaces of 4,500 sq.ft. in outlet centers.
- Growth opportunities are sought nationwide
during the coming 18 months.
- For details, contact
- Scott Johnson,
- Black & Decker U.S. Inc.,
- 701 East Joppa Road R670,
- Townson, MD
- Fax: 410-847-6890;
- Email: scott.Johnson@bdk.com
- Web site:
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Analysis and Budgets
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