BRISTOL, Va. – Retail sales growth slowed in the Twin City during the fourth quarter of 2007, but cash registers in Washington County, Va., rang up huge increases, according to the Tri-Cities Retail Sales Report.
Both Bristols had combined to be the Tri-Cities leader in retail sales growth until the last three months of 2007, said Steb Hipple, a professor with East Tennessee State University’s Bureau of Business and Economic Research.
"After five quarters of leading the area in retail growth, Bristol saw a dollar increase of only 0.9 percent," Hipple said. "We saw something similar in Kingsport where store relocations and new store openings saw their sales drop by 0.8 percent."
For the last three months of the year, sales in both Bristols totalled $317 million, compared to $314 million during the fourth quarter of 2006. During the previous nine months, Twin City sales had increased an average of 10 percent per quarter.
That was reflected among retailers at the Bristol Mall, said Marketing Director Heather Hill.
"Our sales were OK, but not what we would have liked to seen," Hill said. "With increases in gas prices and everyday needs, there’s not a lot of extra income right now."
Hill declined to discuss sales figures or whether the percentage sales either grew or declined.
"In Washington County, Va., sales jumped by 26.5 percent on a year-to-year basis," Hipple said. "That compares to the previous three quarters where sales declined."
Washington County recorded $210 million in retail sales in the fourth quarter, compared to $166 million for the same period in 2006.
During the second half of 2007, the county added a Sam’s Club, Target, T.J. Maxx, Books-A-Million, Ross Dress For Less, PetSmart and other national retailers in the area near Exit 7.
Drops in Bristol and Kingsport – along with increase in Washington County, Va. – can be partially attributed to the relocation of a Sam’s Club from Kingsport to the county, near Interstate 81’s Exit 7, Hipple said.
"Sam’s Club was the big one for Kingsport. It’s hard to imagine just how much retail activity goes through a Sam’s Club or a Wal-Mart Supercenter," Hipple said.
Kingsport reported a nearly 1 percent decline during the fourth quarter, to $359.1 million.
Across the region, Johnson City reported an 8.9 percent increase in retail sales during the fourth quarter, hitting $500.5 million.
Adjusted for inflation, Johnson City rose 4.8 percent while Bristol fell 2.9 percent Kingsport dropped 4.6 percent.
"Retail sales performance in the Tri-Cities metropolitan area modestly improved in the fourth quarter," Hipple said. "Dollar sales in the Combined Statistical Area increased 5.1 percent on a year-to-year basis.
For the year, Bristol cash registers rang up $1.15 billion in sales. Johnson City reported $1.77 billion while Kingsport had $1.28 billion.
dmcgee@bristolnews.com | (276) 645-2532
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