Retailers see increased profits

Public Record, The, Aug 21, 1998

The state Board of Equalization released retail sales figures for the second quarter of 1997. The news was generally good for the Coachella Valley. The combined cities registered a growth in taxable sales of 5.1 percent, compared to a statewide average of 4.4 percent.

Eight of the nine Valley cities showed growth. Only Rancho Mirage decreased.

Palm Desert led the way with an increase of 8.5 percent above the second quarter of 1996. Cathedral City also showed strong retail growth with an increase of 7.4 percent.

La Quinta came in third at 4.7 percent followed closely by Indian Wells at 4.5 percent. Coachella was fifth at 4.0 percent.

Trailing were Indio, Palm Springs and Desert Hot Springs with an increase in 3.0, 2.8 and 1.8 percent respectively.

Rancho Mirage bucked the trend by registering a loss in taxable sales of -1.2 percent.

The two big category gainers were food and general merchandise stores at 17.1 and 16.6 percent.

Home furnishing and appliances came in a distant third with a growth of 7.8 percent.

Trailing were eating and drinking places, apparel stores, building material and farm implements, other retail stores, and auto dealers and supplies. Their increases were 3.5, 1.9, 1.4, 1.3 and 0.1 percent respectively.

Palm Springs took a loss in eating and drinking establishments. Its level was down -5 percent big winner says Coachella, which showed a jump of 42 percent.

Although auto dealers showed only a slight increase, 0.1 percent, Cathedral City was a big winner in this category. Second quarterly taxable sales for auto dealers in that city showed a dramatic boost of 13.5 percent. Statewide, auto sales were up 5 percent.

Service stations took a big loss with a drop of -13.1 percent.