PR’s 1Q17 retail statistics out under new methodology
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.