Monday Report
June City Retail Sales September 22nd, 2008

Bonneville Research Website





Taxable Retail Sales June 2006 to June 2008

RankCity June 2006 Sales June 2007 Sales June 2008 Sales% Change June 2007 - June 2008
1Salt Lake City$363,957,600 $409,487,410 $395,038,004 -3.5%
2Orem$151,185,72 2 $159,269,561 $146,120,816 -8.3%
3Sandy$146,898,15 2 $156,889,936 $132,984,665 -15.2%
4West Valley City$148,881,434 $161,999,181 $128,605,638 -20.6%
5Murray$139,123,81 0 $140,684,667 $123,965,239 -11.9%
6St George$133,641,532 $132,443,056 $115,574,237 -12.7%
7South Salt Lake$133,128,354 $134,110,718 $104,005,570 -22.4%
8West Jordan$94,910,204 $110,867,352 $92,885,309 -16.2%
9Layton$94,871,620 $101,976,096 $92,833,976 -9.0%
10Ogden$95,519,56 8 $100,106,817 $90,948,334 -9.1%
11Provo$89,971,79 2 $87,572,010 $90,438,959 3.3%
12Logan$54,137,66 8 $56,286,205 $64,838,869 15.2%
13Draper$39,226,4 06 $65,405,283 $62,020,419 -5.2%
14Vernal$43,969,59 2 $44,164,636 $56,893,781 28.8%
15Riverdale$51,430 ,284 $59,279,609 $54,114,451 -8.7%
16American Fork$53,220,878 $55,285,924 $52,154,820 -5.7%
17Cedar City$42,673,575 $42,752,184 $43,756,089 2.3%
18Midvale$45,110,7 34 $45,654,955 $39,610,611 -13.2%
19Taylorsville$35,24 8,816 $40,457,996 $38,694,174 -4.4%
20Lehi$20,985,059 $37,296,165 $35,689,506 -4.3%
21South Jordan$36,220,504 $45,764,450 $35,666,470 -22.1%
22Bountiful$29,291, 436 $30,795,479 $34,574,475 12.3%
23Cottonwood Heights$26,966,028 $29,669,072 $29,903,674 0.8%
24Centerville$25,18 9,956 $23,922,384 $28,845,862 20.6%
25Lindon$35,582,1 90 $36,299,268 $28,612,062 -21.2%
26Tooele City$24,325,868 $28,451,164 $28,227,074 -0.8%
27Springville$22,18 6,716 $25,654,853 $25,826,827 0.7%
28Spanish Fork$17,974,798 $22,448,764 $25,309,687 12.7%
29Park City$18,360,669 $21,524,411 $21,957,089 2.0%
30Price$19,089,936 $20,908,374 $21,360,840 2.2%
31Riverton$12,223, 114 $15,583,446 $19,694,591 26.4%
32South Ogden$14,932,793 $17,672,937 $18,388,473 4.0%
33Richfield$16,477, 877 $16,581,300 $18,120,337 9.3%
34West Bountiful$11,681,259 $13,649,406 $17,887,433 31.0%
35Brigham$13,003, 826 $14,917,630 $16,834,510 12.8%
36North Salt Lake$14,624,912 $20,955,862 $16,675,677 -20.4%
37Payson$12,126,7 53 $14,073,627 $15,950,720 13.3%
38Roosevelt$10,85 0,904 $12,394,431 $15,757,615 27.1%
39Pleasant Grove$11,363,776 $16,658,460 $15,608,264 -6.3%
40Moab$10,355,540 $11,983,267 $15,301,477 27.7%
41Roy$13,847,471 $16,481,088 $15,087,990 -8.5%
42Farmington$11,8 27,069 $14,618,742 $14,597,193 -0.1%
43Woods Cross$22,786,646 $19,289,683 $13,648,361 -29.2%
44Kaysville$13,761, 169 $16,025,057 $13,263,242 -17.2%
45Holladay$11,803, 944 $15,226,469 $12,654,180 -16.9%
46Clearfield$11,648 ,558 $12,970,805 $12,039,929 -7.2%

Source: Utah State Tax Commission, Calculations Bonneville Research, September 2008

Who is Up? June 2007 to June 2008

  1. West Bountiful up 31.0% ($4.3M)
  2. Vernal up 28.8% ($12.7M)
  3. Moab up 27.7% ($3.3M)
  4. Roosevelt up 27.1% ($3.4M)
  5. Riverton up 26.4% ($4.1M)

Who is Down? June 2007 to June 2008

  1. Woods Cross down 29.2% ($5.6M)
  2. South Salt Lake down 22.4% ($30.1M)
  3. Lindon down 21.2% ($7.7M)
  4. South Jordan down 22.1% ($10.1M)
  5. West Valley City down 20.6% ($33.4M)


  • BCBG Max Azria
  • BCBG Max Azria Group, Inc. trades as BCBG Max Azria at 1,000 locations nationwide and in Canada and internationally.
  • The stores, offering upscale apparel, accessories and footwear, occupy spaces of 800 sq.ft. to 6,500 sq.ft. in freestanding locations, malls and downtown areas.
  • Growth opportunities are sought nationwide during the coming 18 months.
  • For more information, contact
    • Danny Moizel,
    • BCBG Max Azria Group, Inc.,
    • 2761 Fruitland Avenue, Vernon, CA 90058;
    • Web site:
  • Loehmann's
  • Loehmann's operates 66 locations nationwide.
  • The stores, offering women's discounted apparel, occupy spaces of 20,000 sq.ft. to 30,000 sq.ft. in freestanding locations, lifestyle, power and strip centers, in addition to urban/downtown areas.
  • Growth opportunities are sought nationwide during the coming 18 months, with representation by Katz & Associates.
  • Typical leases run 10 years.
  • Preferred cotenants include Barnes & Noble, Linens 'N Things and Target.
  • Preferred demographics include a population of 200,000 within five miles earning $80,000 as the average household income.
  • For more information, contact
    • Brian Katz, Katz & Associates,
    • One Blue Hill Plaza, Suite 1440,
    • Pearl River, NY 10965;
    • Web site:
  • A/X Armani Exchange
  • A/X Armani Exchange operates 70 locations nationwide and in Canada.
  • The stores, offering casual designer sportswear and accessories, occupy spaces of 4,500 sq.ft. to 5,500 sq.ft. in upscale shopping centers, urban and tourist areas and streetfronts.
  • Growth opportunities are sought throughout major metro markets nationwide and in Canada during the coming 18 months, with representation by Metropolis Retail, Inc.
  • Typical leases run 10 years with two, five-year options.
  • A vanilla shell and specific improvements are required.
  • Preferred demographics include a population of 200,000 within five miles earning $70,000 as the average household income.
  • Preferred cotenants include fashion retailers.
  • For more information, contact
    • Lary P. Hanshaw,
    • Metropolis Retail, Inc.,
    • 2071 Mountain Boulevard, Suite 1,
    • Oakland, CA 94611;
    • Web site:

Green Retail?

ICSC futurist: Retail centers will soon run on solar or wind alone

Soon, retail centers will be able to fully power themselves with wind or solar energy, and they will be built in the center of residential communities, rather than on the periphery, predicted futurist David Houle, the keynote speaker at ICSC's RetailGreen conference. The global investment in alternative energy will grow explosively in the next decade.

Source: ICSC>

Bonneville Research

Yes, I am running for Utah Governor!

Yes, Bonneville Research is very much still in business, and helping clients make a difference with:

  • a massive and multi-year industrial manufacturing expansion in West Valley City supported by an EDA Project.
  • a large data center development in West Jordan supported by an EDA Project.
  • working with Murray City to redevelop a corridor of land along the light rail and commuter rail corridors through the city.
  • developing the economic development strategy as part of the consulting team lead by EDAW to prepare a special area plan for the largely undeveloped Northwest Quadrant of Salt Lake City.
  • an industrial/commercial center on land that had sat vacant for 25 years in West Valley City supported by an EDA Project.
  • a large mixed-use development in South Salt Lake supported by an Urban Renewal Project.
  • rebudgeting a mixed-use development in Holladay supported by an Urban Renewal Project.
  • rebuilding of the Cottonwood Mall as a mixed-use development in Holladay supported by an Urban Renewal Project.
  • A feasibility analysis of a possible mixed-use development in Taylorsville on a large publicly owned parcel to be supported by an Urban Renewal Project.
  • a detailed market analysis of a recreational development in southeastern Idaho.
  • a feasibility analysis of Cottonwood Heights establishing their own Police Department.
  • an evaluation of the feasibility of merging two not- for-profits providing services to needy youth.
  • an analysis of a residential development in South Salt Lake to be supported by an Community Development Project.
  • a market analysis of a proposed cycle oriented condominium development in Moab.
  • a facilities analysis for a successful children charity in Salt Lake City.
  • A market analysis of a proposed extended care facility development in Salt Lake City.

Yes, we are very much still in business and actively serving our clients and helping "make things happen".


Finally They Are Out!

  • Thanks Marc!
  • Who is getting hit the worst?
  • Who is up?
  • Who is down?

Bob Springmeyer

Bonneville Research

  • Bonneville Research Website
  • Check out our Bonneville Research Website!

    Bonneville Research
  • Utah State Revenue Summary - Twelve Months FY2007-08 Final

    Utah State Government

    General Government Fund
    • Sales and Use Taxes -6.4% (-$118.4M)
    • Severance Taxes +3.4% ($3.30M)
    • General Fund Total -5.9% (-$115.4 M)

    Public Education
    • Individual Income Tax +1.2% (+$32.1M)
    • Corporate Taxes -2.3% (-$9.64M)
    • Beer, Wine and Liquor Taxes +0.7% (+$0.43M)
    • Insurance Premium Taxes +7.6% (+$5.42M)
    • Public Education Total +0.1% (+$28.31 M)
    • Note: Utah Public Schools enrollment growth is expected to be 2.6% or 13,650 students

  • Transportation
    • Motor Fuel Taxes -3.9% (-$10.00M)
    • Special Fuels Tax +5.2% (+$5.75M)
    • Motor Vehicle Registration Fees +3.1% (+$1.08M)
    • Transportation Fund Total -0.8% (-$3.17 M)

  • Source: Utah State Tax Commission, TC-23, September 16, 2008

    • World Business Confidence
    • Sentiment among global businesses has not been materially affected by the renewed turmoil in global financial markets. Global businesses are worried, but this has been their mood for much of the past year since the financial shock hit. European businesses are the most nervous, followed closely by those in the U.S. and Japan. Asian businesses remain the most upbeat. A measurable improvement in assessments of present overall business conditions last week is encouraging if sustained. Expectations about the business outlook into next year remain firmly negative, however.
    • The Conference Board Leading Indicators
    • The Conference Board index of leading indicators fell another 0.5% in August, the third decline in the past four months. The index was pulled down by a steep drop in residential building permits and shorter delivery times for manufacturing shipments. The weakening path for the leading index indicates that the slowdown in the economy will persist. To date, the leading index is down 3.7% from its peak, an amount that equates to a mild recession.
    • FOMC Meeting
    • The Federal Open Market Committee held the fed funds target rate steady at 2% for the third straight meeting. The accompanying statement cites the recent turmoil in financial markets and the ongoing slowing in economic growth, but says that growth should soon pick up. The statement notes recent high inflation, but says this should ease, although it does say that "the inflation outlook remains highly uncertain." The FOMC cites both downside risks to growth and upside risks to inflation that are of "significant concern." There is no indication of a bias toward lower rates, which will disappoint financial markets. The decision to hold the fed funds target rate steady was unanimous.
    • Treasury International Capital Flows
    • Net foreign purchases of U.S. long-term securities dropped to only $6.1 billion in July from $53.4 billion the prior month. This was the third straight monthly decline, and it is all the more troubling because the July U.S. trade deficit had widened to $62.2 billion.
    • Risk of Recession
    • The chance of the U.S. falling into a recession in the next six months increased to 43% in August compared with July's 35%. The economy's problems are clearest in financial, housing and job markets. Recent data are consistent with a sharp deceleration in real GDP this quarter. Further, the odds are high that real GDP will post a negative quarter or two through the first half of next year.
    • Current Account
    • The U.S. current account deficit widened by 4.3% to $183.1 billion in the second quarter of 2008, from a revised $175.6 billion in the first quarter. The consensus expected the deficit to widen to $180.9 billion. The deficit on goods widened to $216.3 billion, while the surplus on services widened to $35.8 billion.
    • CPI
    • Top-line consumer price inflation decreased from 5.5% in July to 5.4% in August on a year-ago basis. On a month-to-month basis, the top-line CPI actually fell by 0.1% in August. Core inflation stayed level at 2.5% on a year-ago basis, but declined from 0.3% to 0.2% on a month-to-month basis. The August numbers confirm that inflation has peaked given the recent decline in world oil prices.
    • Industrial Production
    • Industrial production fell 1.1% in August while manufacturing production declined 1.0%. The decline in manufacturing was led by the motor vehicle and parts industry, but there was weakness across the entire sector. A plunge in utility output amplified weakness last month. Overall, the report was the weakest industrial production report so far this year. Manufacturing should continue to face significant headwinds from weakness in the domestic economy.
    • State Personal Income
    • U.S. personal income rose by 1.8% in the second quarter of 2008 following an increase of 0.8% in the first quarter. The second quarter increase was the fastest since the first quarter of 2007 and reflected the economic stimulus checks doled out by the government during that quarter. The Southwest and Southeast saw the fastest income growth while New England posted the slowest growth during the quarter.
    • Jobless Claims
    • Initial claims for unemployment insurance rose 10,000 to 455,000 for the week ending September 13. This was higher than expected. Although claims may be remaining higher than their trend of 400,000 several months ago partly because of hurricanes in the South, this increase points to a fragile labor market that may be losing even more steam.
    • New Residential Construction (C20)
    • Construction came in much weaker than expected in August. At a seasonally adjusted annual rate of 895,000, housing starts are 6.2% below the July estimates and permits are 8.9% below July estimates. This report suggests that the downturn is still in full swing, although construction data can be volatile.
    • NAHB Housing Market Index
    • The NAHB housing market index did slightly better than expected for September, coming in at a level of 18 in comparison to the forecast and consensus values of 16 and 17. While there were slight improvements in present sales and prospective buyer traffic, the largest increase is in six months' sales expectations. The data are thus the first sign that the housing market has bottomed out at a national level, even though many regions are still experiencing declining activity.
    • MBA Mortgage Applications Survey
    • he MBA market composite indices experienced a large increase for the week ending September 12, as a steep fall in contract rates led to a wave of refinancing. The market index was up by 33.4% for the week; this large increase almost entirely accounted for by an 88.1% surge in the refinancing index. The purchase index also went up by a slight 2.4%. As always, financial turmoil has led to a surge of refinancing applications as interest rates fall, though how many of these applications are approved is still up for grabs.
    • Chain Store Sales
    • ICSC chain store sales plunged 1.6% in the week ending September 13, the second consecutive decline. Year-ago growth dropped to 1.3%, the weakest since May. Working against sales in the week were the fading lift from tax rebates and an increase in gas prices.
    • Oil and Gas Inventories
    • Crude oil inventories declined by 6.3 million barrels for the week ending September 12, according to the Energy Information Administration. Gasoline inventories fell by 3.3 million barrels. Distillate supplies fell by 0.9 million barrels. Refinery operating capacity fell to 77.4% from 78.3%. Total domestic petroleum demand fell sharply. This report is bearish.
    • Natural Gas Storage Report
    • Working gas in underground storage increased by 67 billion cubic feet during the week ending September 12, above consensus expectations of a 61 bcf build.

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  • BONNEVILLE RESEARCH - Working with clients to make things happen!

    Bonneville Research is a Utah-based consulting firm providing economic, financial, market and policy research to public and private sector clients throughout the intermountain west.

    Helping Clients Succeed

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    Note from Bob Springmeyer:

    As some of you may know I am the Democratic Candidate for Utah Governor.

    I have always considered myself a "pro-business" moderate in the great tradition of Governors Rampton and Matheson.

    It is my hope that I can continue to send out the Monday Report weekly without interruption.

    The Monday Report has always reflected my business and economic development values.

    I don't intend for the Monday Report to become a campaign tool, but if you are interested in my campaign and want to be supportive, please click on the link below.


    Bob Springmeyer

    The good education, good jobs, good health and good government candidate for Utah Governor

    Election Date: November 4th, 2008

    November 4th, 2008

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