PR’s 1Q17 retail statistics out under new methodology
Puerto Rico Trade and Export Executive Director Ricardo Llerandi.
Puerto Rico Trade and Export released the island’s most recent set of retail sales figures for the first quarter of 2017, generated using a new methodology announced earlier this year.
“Accumulated retail sales amounted to $7.6 billion for the first quarter of 2017,” said agency Executive Director Ricardo Llerandi.
“The month of January showed the highest volume of sales, amounting to $2.6 billion. February showed a sales volume totaling $2.4 billion, while March showed increased sales volumes amounting to $2.6 billion,” he said.
The sectors that accounted for the largest share of sales during the first quarter were department stores and miscellaneous items with $2.1 billion, new and used motor vehicles with $1.9 billion and supermarkets with $901 million.
Meanwhile, the sectors reporting the lowest turnout for the quarter were yard equipment stores, with $27 million, specialty food stores, with $ 29 million, and cosmetic, beauty and perfume stores, with $49 million.
Meanwhile, the major chains reported the highest sales volume for a total of $3.9 billion, followed by small businesses with $1.7 billion, medium-sized companies with $1.2 billion and large ones with $691 million.
The size of the companies is defined by the amount of payroll paid. So small businesses are defined as those whose quarterly payroll is less than $20,000. The medium-sized company is the one with a quarterly payroll greater than $20,000 up to $250,000. Large companies are those with payrolls greater than $250,000 and have more than one establishment in Puerto Rico, Llerandi explained.
