Business Monday: Aspen retailers edge ahead of first 9 months of 2017
Aspen retailers saw revenue grow 5 percent over the first three quarters of 2017, the city Finance Department reported last week.
From hotels to pot shops, retailers combined to generate $587.6 million in revenue from January through September this year, resulting in $12.3 million in sales tax collections for the city.
September accounts for about 7.1 percent of year’s total sales tax collections, the Finance Department said in its monthly consumption tax report.
On its own, September revenue for Aspen retailers was down 2 percent from the same month last year. Just three of the 12 industry sectors posted gains; sales of luxury goods were up 21 percent, utilities were up 2 percent and miscellaneous increased by 28 percent. All told, September accounted for $58.1 million in revenue.
For the year, however, all retail sectors are up over 2017. Industry revenue for the first nine months of 2018 were:
• Accommodations — $174.7 million, up 4 percent
• Automobile —$15.7 million, up 1 percent
• Clothing — $46.8 million, up 5 percent
• Construction — $42.3 million, 5 percent
• Food/drug — $42.5 million, up 1 percent
• Liquor — $8.1 million, up 3 percent
• Luxury goods — $23.2 million, up 6 percent
• Marijuana — $9.5 million, up 6 percent
• Miscellaneous — $47.1 million, up 28 percent
• Restaurants/bars — $107.2 million, up 2 percent
• Sports equipment/clothing — $36.5 million, up 3 percent
• Utilities — $34.3 million, up 6 percent
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