Retailers received more treats than tricks this October, as same-store sales for the month rose 3.7 percent over the same period last year, according to data compiled by TeleCheck Services, Inc., the world’s leading check acceptance company. The Midwest region led the nation, followed by the Southwest and West (tied), the Mid-Atlantic, the Northeast and the Southeast. The TeleCheck Retail Index is based on a year-over-year, same- store comparison of the dollar volume of checks written by consumers at more than 27,000 of TeleCheck’s 210,000 subscribing locations. TeleCheck is a subsidiary of Atlanta-based First Data Corp.
“Spending for Halloween has been steadily growing over the past few years and has become a major holiday shopping period for consumers. Retailers also are benefiting from the continued strength of the economy. Given the current state of the economy and the pace of consumer spending, we anticipate a 3- to 5-percent same-store sales gain for the 28-day Christmas shopping season,” said Dr. William Ford, TeleCheck’s Senior Economic Advisor.
Sales in the Midwest climbed 5.5 percent, with jumps of 5.7 percent in Wisconsin and Minnesota, 5.3 percent in Illinois and Ohio, and 5.2 percent in Michigan. Sales grew by 5.8 percent in Milwaukee, 5.3 percent in Minneapolis/St. Paul, 5.5 percent in Chicago, 5.6 percent in Cleveland and 5.7 percent in Detroit.
The Southwest’s and West’s sales rose 3.9 percent. In the Southwest, Texas’ sales climbed 4.5 percent, and both Oklahoma’s and Missouri’s rose 3.5 percent. Sales grew 5.1 percent in Austin, 5.0 percent in San Antonio, 4.7 percent in Houston and 4.4 percent in Dallas/Fort Worth. Sales rose 3.4 percent in both Oklahoma City and Tulsa, and grew 3.6 percent in Kansas City and 3.4 percent in St. Louis.
In the West, Hawaii jumped 5.5 percent, Colorado climbed 3.9 percent, Arizona increased 3.8 percent, California grew 3.4 percent and Washington rose 3.3 percent. Sales were up 3.5 percent in Denver, 3.4 percent in Phoenix and 3.5 percent in Portland. San Diego’s sales climbed 3.9 percent, the Bay Area’s rose 3.4 percent, Los Angeles’ grew 3.3 percent and Seattle’s increased 3.5 percent.
Sales rose 3.6 percent in the Mid-Atlantic, with Maryland up 3.9 percent, Pennsylvania up 3.6 percent, and New Jersey and Virginia up 3.4 percent. Sales grew 4.1 percent in the District of Columbia, 4.0 percent in Baltimore, 3.8 percent in Philadelphia and 3.5 percent in Pittsburgh.
The Northeast’s sales increased 2.3 percent. New York was up by 3.9 percent and Massachusetts grew 0.6 percent. New York City’s sales climbed 4.0 percent and Boston’s rose 0.8 percent.
The Southeast region grew by 2.1 percent. Sales rose 3.7 percent in Tennessee, 2.4 percent in The Carolinas, 2.0 percent in Louisiana, 1.8 percent in Georgia and 1.5 percent in Florida. Memphis’ sales grew 3.5 percent, Nashville’s rose 3.3 percent, New Orleans’ increased 2.0 percent and Atlanta’s grew 2.2 percent. Sales were up 2.6 percent in Orlando and 2.1 percent in Tampa, but fell 2.2 percent in Miami/Ft. Lauderdale.
TeleCheck’s index is compiled on a calendar basis and is based on the total sales volume of check-writing consumers at a broad cross-section of retailers. Figures are not adjusted for inflation. Checks account for approximately 37 percent of retail spending. In 1998, TeleCheck authorized over $112 billion in checks and processed more than 2.2 billion check inquiries.
Atlanta-based First Data Corp. helps move the world’s money. As the leader in electronic commerce and payment services, First Data serves more than two million merchant locations, 1,400 card issuers and millions of consumers, making it easier, faster and more secure for people and businesses to buy goods and services. For more information, please visit the company’s web site at [http://www.firstdatacorp.com].
Dr. William Ford holds the Weatherford Chair of Finance at Middle Tennessee State University. Earlier in his career he was president of the Federal Reserve Bank of Atlanta and served on former Fed Chairman Paul Volcker’s Federal Open Market Committee.
November 4, 1999
SOUTHEAST 2.1% WEST 3.9% MIDWEST 5.5%
Florida 1.5% Arizona 3.8% Illinois 5.3%
Miami/ Phoenix 3.4% Chicago 5.5%
Ft. Lauderdale -2.2%
Orlando 2.6% California 3.4% Michigan 5.2%
Tampa 2.1% Bay Area 3.4% Detroit 5.7%
Louisiana 2.0% Los Angeles 3.3% Minnesota 5.7%
New Orleans 2.0% San Diego 3.9% Minneapolis/
St. Paul 5.3%
Georgia 1.8% Oregon 3.7% Wisconsin 5.7%
Atlanta 2.2% Portland 3.5% Milwaukee 5.8%
Tennessee 3.7% Washington 3.3% Ohio 5.3%
Memphis 3.5% Seattle 3.5% Cleveland 5.6%
Nashville 3.3% Colorado 3.9%
The Carolinas 2.4% Denver 3.5% MID-ATLANTIC 3.6%
Hawaii 5.5% District of
SOUTHWEST 3.9% Pennsylvania 3.6%
Texas 4.5% NORTHEAST 2.3% Philadelphia 3.8%
Austin 5.1% Massachusetts 0.6% Pittsburgh 3.5%
Dallas/Ft. Worth 4.4% Boston 0.8% New Jersey 3.4%
Houston 4.7% New York 3.9% Virginia 3.4%
San Antonio 5.0% New York City 4.0% Maryland 3.9%
Missouri 3.5% Baltimore 4.0%
Kansas City 3.6%
St. Louis 3.4%
Oklahoma City 3.4%
SOURCE TeleCheck Services, Inc.