Puerto Rico retail sales dip 1.12% in July
Puerto Rico’s retail activity saw a slight dip in July, when activity was down 1.12 percent to $3.10 billion, from the $3.14 billion reported for the same month in 2013, figures released by Puerto Rico Trade and Commerce showed Thursday.
The results showed that large retailers, defined as those reporting a quarterly payroll of $250,000 or more, took the biggest hit during the summer month, reporting 3.81 percent reduction in July sales.
The data revealed that variety stores saw their cash registers lose a combined $2.9 million, or 22 percent less year-over-year in July. Furniture stores also took a hit, to the tune of $9.8 million, or 16.1 percent less than in July 2013. Rounding out the top three biggest losers were new and used auto sales, with $46.2 million in reduced activity in July 2014 — a 15.5 percent reduction when compared to the same year-ago month.
On the other hand, women’s clothing stores reported a 23.8 percent year-over-year growth, with $24.6 million, or $4.7 million more in July 2014 in comparison to July 2013. Office supply and toy stores saw a 9.2 percent year-over-year growth in July, when sales exceeded $21.5 million, representing a $1.8 million positive difference.
The government report, which offers the most recent retail sales data available for Puerto Rico, breaks down activity down to nine regions. In July, the Mayagüez region had the best results, with 9 percent growth, up $17.5 million to $212.2 million in sales, while the Caguas region saw the biggest drop, at 6.9 percent, or $35.2 million less to $470.1 million in activity at the register.