Colorado retailers posted modest gains the first month of the holiday shopping season, according to data released Tuesday by the Colorado Department of Revenue.
November sales in the retail trade sector were up 5.14 percent from the previous year, but the increase is expected to be lower once inflation is factored in. The U.S. inflation rate was 2 percent in November.
Economist Patty Silverstein of Development Research Partners described the November increase as “reasonable.”
“It wasn’t the roaring-out- of-the-gate that everybody had perhaps hoped for going into the holiday season,” she said. “It was just kind of mediocre.”
Electronics and appliance stores were among the winners in November, posting a 13.36 percent gain, while clothing and accessory stores saw a gain of 6.33 percent from the previous year.
Cherry Creek mall general manager Nick LeMasters said electronics stores, luxury retailers and jewelry stores were the center’s strongest holiday performers. While some apparel stores were particularly strong, he described the overall category as “good.”
General merchandise and warehouse stores rose 2.56 percent, and the category that includes sporting goods, hobby, book and music stores gained 0.67 percent.
Retail sales in the state were stronger at the beginning of 2006 but slowed in the later part of the year, largely as a result of a slowdown in housing. A full picture of the holiday retail season won’t be available for several weeks.
“It’s going to be really interesting to look at December,” Silverstein said. Late-December blizzards closed many stores in the days leading up to Christmas, but she predicts that most of the sales lost during that period were made up when the weather cleared.
“I don’t think we’re going to have a full picture of the holiday season until we get the January data, too,” she said.
Staff writer Kristi Arellano can be reached at 303-954-1902 or karellano@denverpost.com.
