Glenwood retail sales up 2 percent through November
January 9, 2014
GLENWOOD SPRINGS — Retail sales jumped another 4 percent in November of last year, putting the city on track to close out 2013 with a 2 percent gain in sales tax revenues, as projected in the city budget.
While numbers for the final and typically the largest sales month of the year, December, won’t be known until early next month, through November the city had collected more than $12.8 million in sales taxes, according to the city of Glenwood Springs report of November sales released this week.
That represents a total of $346.8 million in retail sales within the city through November, which is slightly more than 2 percent ahead of the same period in 2012, according to the report.
November marked the third straight month of year-over-year growth in retail sales for the city, following a slight decrease in August. Gains were reported in seven out of the 11 months.
In 2012, retail businesses in Glenwood Springs recorded about $378 million in total sales, bringing just over $14 million into the city coffers. Sales tax revenues account for about half of the city’s general fund budget.
Through November, sales in the city’s largest single retail category, general merchandise, were still running about 2.1 percent behind 2012 figures.
Sales gains have been reported in all of the other major categories, however, including food stores (+1.8 percent), restaurants and bars (+2.8 percent), automotive/service stations (+6 percent), building materials and supplies (+8 percent), apparel/accessories (+3.4 percent), motel/hotel (+3.5 percent) and miscellaneous retail (+2.5 percent).
Glenwood Springs also continues to see a significant increase in accommodations taxes collected on overnight stays at hotels, motels and other lodges. Accommodations tax collections were up 5.4 percent in November compared to the previous year, and for 2013 to date through 11 months were up 4.1 percent.