Retail Sales Increase 9.1% In June 2017
Retail sales in June 2017 increased 9.1% above the $102.8 million recorded in June 2016 and when adjusting for the annual retail sales rate of inflation – measured at 1.4% in June – the volume of retail sales increased 7.6%, according to the Retail Sales Index, which said the increase was “due primarily to the 35th America’s Cup.”
“All retail sectors experienced increases in sales reve-nue, with the exception of motor vehicle stores which declined 25.4%. The ‘apparel stores’ category recorded the largest increase in sales receipts of 33.6% ,” the report said.
Chart extracted from the report:
“Receipts from liquor sales increased 19.4 per cent while food sales were 10.4 per cent higher year-over-year. Retailers attributed the increase to demand from visiting boats and yachts. In volume terms, sales of liquor and food stores were 14.2 and 6.6 per cent higher, respectively.”
The full 2017 June Retail Sales Index is below [PDF here]:
Lots of money going to the few lucky people able to sell AC clothing …. few being the operative word.
I guess you missed all the Bermudians benefitting as AC employees, musicians, taxi drivers, restaurants, bars, hotel emplyees, guest houses, etc. Or maybe you just want to perpetuate the big PLP myth.
If you couldn’t figure out a way to make money of the America’s Cup you should be embarrassed by your complete lack of hustle.
The ‘apparel stores’ category recorded the largest increase in sales receipts of 33.6% ,” the report said.