Long Island Retailers Report Strong January in Sales
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Joseph Byrne Friday, February 8, 2013
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The good news for the beginning of 2013 on Long Island is that shoppers flocked to the after Christmas clearance sales in droves. Many of the Long Island stores, shops, and big box stores reported very good number concerning their sales for the first month of the year. With that said, the bad news is that spending is expected to slow as the deals dry up heading into the spring, and Long Islanders digest rising gas prices and a 2 percent payroll tax hike that started in January.
Overall, 20 retailers reported on Thursday that revenue at stores opened at least a year — an indicator of a store’s health — rose an average of 5.1 percent, according to the International Council of Shopping Centers. That’s above the trade group’s 3 percent estimate and the 4.5 percent increase posted in December. It also marks the highest reading since last August when the figure was up 6 percent.
Nationally the clearance sales were great boosts for a rather dismal Christmas holiday shopping season. However, now that the clearance sales are over, the money is starting to dry up. Here on Long Island, retailers seem to be recovering from a lackluster Christmas season, with January sales on the rise, according to Josh Weinkranz, vice president of New Hyde Park-based Kimco Realty, which owns and manages 34 retail properties on the Island. National tenants like T.J. Maxx, Home Goods, Target and Kohl’s were reporting sales increases and there was “less negativity” voiced by independent merchants.
“The stores on Long Island had a really good month,” Weinkranz said. “We think they are heading in the right direction.”
We can only hope that the numbers stay a little stronger than previous years so that businesses can continue to stay ahead of their post-Sandy renovations.
joeb@longislandyellowpages.com
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Joseph Byrne is a writer for the Long Island Yellow Pages Business News section. If you have a press release that you'd like to share please send it to joeb@longislandyellowpages.com
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