Aspen retail sales spike in October
December 8, 2007
ASPEN ” A 20.5 percent spike in October sales tax collections over figures from the same month last year doesn’t have the city’s finance director uncorking the bubbly.
That’s because the offseason month historically has accounted for just 4.5 percent of the city’s sales tax revenue, Finance Director Paul Menter noted in a financial report issued last week.
“In offseason months, it is usually advisable to concentrate on the year-to-date trends instead of the individual monthly performances,” he wrote.
That said, year-to-date collections for the first 10 months are up 6.6 percent over the same period last year, according to the report.
Indeed, most of the major industries have posted gains this year, though Menter reported that “notable declines” have been realized in industries such as sports equipment and clothing (down nearly 3 percent), utilities and telecommunications (down 4 percent,) and specialty retail (down nearly 6 percent). Combined, those three segments represent 19 percent of the retail sales within Aspen city limits.
All told, Aspen retailers rang up $22.7 million in October sales, a nearly 24 percent increase over October 2006. Retail sales for the first 10 months of the year totaled $410.5 million, a 6.7 percent improvement over the same period last year.