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Show WedThursFri, December 31, 2003-January 2, 2004 The Park Record Sales looked strong in December The holiday rush in December appeared to boost retailers' outlook for the season according to the latest lat-est findings of the NRF Executive Opinion Survey, a monthly index by the National Retail Fe'deration (NRF). The Retail Sector Performance Index (RSPI) grew at a faster pace in December (56.2 percent) than the previous month (52.1 percent) and was 12.0 percentage per-centage points above its year-to-year value. The RSPI measures retail executives' evaluations of monthly sales, customer traffic, the average transaction per customer, employment, inventories and a six-month-ahead sales outlook expectation. expec-tation. The RSPI is based on a scale of 0 percent to 100 percent, with 50 percent equaling normal. "This has clearly been a much stronger holiday season than last year," said NRF President and CEO Tracy Mullin. "Consumers have not only shown that they are ready to spend, but it appears they are spreading their spending more equally among diverse retail segments. seg-ments. This is a great sign for the industry." The National Retail Federation continues to project that holiday sales will increase 5.7 percent over last year. The December Operations Index (average of employment and inventories) showed no change from the prior month as it remained at a normal level of 50.0 percent. The index was 2.6 percentage points above the same period in 2002. However, the Inventory Index declined to 46.9 percent, its lowest reading since January 2003. "Retailers have done a great job of keeping their inventories under control this holiday season," said Mullin. "This will certainly help the holiday profit picture and limit the amount of clearance activity in early 2004." The December Current Demand Index (average of sales and traffic) rose at a faster pace than the prior month (57.3 percent versus 53.1 percent) and was 15.2 percentage points higher year-over-yean Sales (59.4 percent) and customer traffic (56.3 percent) showed strong gains in December leaving retailers optimistic about a healthy holiday season. Looking ahead over the next six months, retailers are showing a great deal of confidence that the current sales environment will continue con-tinue into the next year. The December Demand Outlook Index (a six-month outlook for sales) stood at 62.5 percent, a solid increase from last month's reading of 53.1 percent. The NRF Executive Opinion Survey is a valuable new strategic tool to track essential metrics that gauge the state of the U.S. retail industry. The survey is used to gather the opinions of the industry's indus-try's top executives on trends in merchandising, hiring, sales expectations, expec-tations, customer traffic and special seasonal-related developments. The survey is conducted on a monthly basis, and as results accumulate, accu-mulate, will be used to develop an aggregated index of these industry trends. Gaddis buys Foothill Village with partner JTJG Foothill Village LC, has recently announced the acquisition of the 275,000 square foot mixed-use mixed-use shopping center, Foothill Village, from Gregory Greenfield & Associates Ltd., from Atlanta, for an undisclosed sum. Majority owners John Thackeray, Johansen Thackeray & Co, and Park City resident Jim Gaddis, Gaddis Investments, have a combined 50 years experience in the real estate investment and development develop-ment industry.. Funding is being secured through Key Bank. The transaction is expected to close in mid January. Foothill Village, most known for its upscale, outdoor retail mall, also houses indoor offices and J,000-car parking garage and surface stalls. Some of the anchor tenants include Associated Foods (Dan's), Steinmart, TGI Fridays, Washington Mutual, Chico's, GNA, Starbucks, Blockbuster Video, and a strong group of medical professionals. profes-sionals. The east-bench shopping center features more than 70 stores and offices, six restaurants, and one health club. "While i we dont see a lot of immediate change in tenant mix, we arq excited about bringing in a vari ety of new and local businesses over time, catering to the needs of customers cus-tomers and their lifestyles," says Thackeray, who also owned the shopping center from 1985 to 1992. "Providing a sense of community is important to us." Foothill' Village was constructed in 1956, renovated in 1969, and expanded in 1987. Despite its age Gaddis says, "The buildings and structures comprising com-prising Foothill Village are in good condition, so initially we will be working only on smaller deferred maintenance issues; and over time we will concentrate on structural and aesthetic changes." The property management responsibilities will be shared by Johansen Thackeray & Co, handling han-dling all the financial and accounting account-ing management; and Perfect Circle Property Management LLC, overseeing over-seeing tenant relations, operations and maintenance management. Leasing responsibilities will be handled han-dled by Prime Commercial and Colliers Commerce CRG. Kip Paul with Colliers Commerce CRG, and James Burgess with The Burgess Company represented the Buyers in this transaction. 2003: Softballs, urgent care and liquor laws Continued from A-23 ful and often controversial billboards bill-boards as an influence. Utah Senator Michael Waddoups denied the connection and stated repeatedly repeated-ly that the tax increase would finance an increase in drunken driving dri-ving enforcement, a fund that has been depleted as money was diverted divert-ed to the general fund by the Legislature over the years. Schirf responded by pouring kegs of his new beer - 1st Amendment Lager - into the Great Salt Lake. 2. Summit County gets a hospital. The process to bring a hospital to Summit County began four years ago, but 2003 saw a list of milestones in the journey. In mid-April, the Summit Community Hospital Development Foundation officially announced it would partner with Intermountain Health Cai'e, '"a move' that1 Was unthinkable at the onset of the project. pro-ject. The announcement was solidified solidi-fied with a Memorandum of Understanding, outlining a string of agreements between IHC and the board. Months of strategic planning, interviews with community mem- ing the operation to 24 hours a day. It also announced the arrangement to expand services of the non-profit health care provider, the People's Health Center. Those two pieces fulfilled ful-filled agreements the giant healthcare health-care company had made to work with the community. 1. Softball girls arrive in Park City. Merchants around the county fell in love with hundreds of softball-playingeenage softball-playingeenage girls who arrived in bcrs and discussions on the location followed. In the fall, IHC and the hospital board traveled across the county for one last round of public input meetings. meet-ings. The three possible locations that had been bantered about for months - Quinn's Junction, Kimball Junction and Silver Creek - were still pnthe.table. ; . In December, IHC announced that it would supplement the urgent care at the Park City Family Health and Urgent Care Center by extend- July. They rented a mix of lodging properties, fnpm Best Western hotel rooms to Deer Valley condominiums, condomini-ums, bought food, souvenirs and tickets to the Alpine Slide, and they cleaned up after themselves. For two weeks, the girls, their coaches and support people could be seen playing and spending money. They were about 1,800 new visitors in a season that traditionally caters to seniors from Arizona, escaping the heat, and day visitors from the valley, escaping the heat. Because the softball fields were spread throughout the county, even businesses such as Ken's Kash and the Oakley Polar King in Oakley benefited from the influx of athletes. The girls also spent their money on a variety of pleasures, from Starbucks coffee to rafting trips. Lodging properties had the double dou-ble bonus of renting their properties at the higher-priced weekly rate (as opposed to monthly) and for two weeks. The coup was orchestrated by the Park City ChamberBureau, who signed a two-year contract with Triple Crown Sports. The move into summer sports tourism had a resoundingly positive first impression. Time for SPRING CLEANING??? Call today and place your ad in the classifieds. We will even throw in the signs. "ParkRecoE PARK CITY, UTAH 649-9014 m I 225 to 000 -1,125 Margin Over 1 Month Libor -Interest only Payments Plan -Rate & Term Refinance V -Cash out Refi -Primary Residence or 2nd Home -100 Financing with Pledge Agreement ftf Call a Professional at: Mnk INTERMOUNTAIN MORTGAGE COMPANY 435-649-6660 888-873-0005 toll free Rob Karz, Joe Thomas, Richard Miller, Jeff Reade, Shawn Cassella, DJ Glusker, Bernadette Clahane, Sherree Durastanti, Bob Feinberp APR 2.449 based on $1 ,000,000 loan amnt, Amount financed $971 ,687.50 total of Payments $1 ,473,1 03.06 on interest only 1 month libor w 1.125 margin. 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