Hottest retail area is Los Osos Valley Rd says new report
Sales tax revenue for the second quarter of 2012 was up 7.1% in 2012 after climbing 9.2 % the last quarter. The trend is positive both here and nationally with an expected increase of of 4.1% in Holiday sales by the National Retail Foundation.
SLO city sales grew strongest Sales the Los Osos Valley Rd corridor up 25.4% in the latest quarter with a 9% increase Downtown but a 10% decline in the Madonna retail area.
Statewide the SLO quarterly newsletter published by their finance department reports that auto sales receipts are up 22.8% in SLO with restaurants and liquor sales up 26%. Speciality stores and sporting goods stores were each up a hefty 34 to 35%.
The city reports says sales tax revenue for all the county for the quarter was up nearly 13%.
On the bed tax front the city reported October TOT tax up 7.3% and 6.9% year to date as more visitors stayed in our hotels.
Next month we will get a report that will include the newly opened Hotel Granda that will add 17 rooms to the 2127 hotel rooms already in the city.