Colorado Springs Retail Briefs: February 22, 2008

Colorado Springs-based ANNA'S Preemie, a manufacturer and distributor of premature infant garments and accessories, has placed in the Top 500 Emerging Businesses in the United States for 2007, according to Diversity Business.

Studies show that over-stimulation by light, sound and touch causes lung and heart stress, decreased immunity, lack of appetite and other dysfunctional behaviors and reactions in premature infants. Something as simple as finding appropriately sized clothing can make a difference in a preemie's progress.

In addition to the Top 500 Emerging Businesses in the United States, ANNA'S Preemie also has received the iParenting award and was included among the Top 100 Women Owned Businesses in Colorado.

iT'Z grand opening

iT'Z family fun center held its grand opening Feb. 14 at 3035 New Center Point in First & Main Town Center.

The entertainment complex offers more than 130 video and ticket games, three rides, a small-scale indoor speedway, four 10-pin bowling lanes and seven party rooms.

iT'Z also is donating $1,500 to the City of Colorado Springs Parks, Recreation and Cultural Services Department's "Helping Hand Fund," which provides financial aid to young people who would like to participate in sports, ice and aquatic programs but cannot afford the full program fees.

January retail sales

As expected, January retail sales demonstrated that consumers last month were focused on buying necessities more than discretionary items.

The National Retail Federation reports that industry sales for January (which exclude automobiles, gas stations, and restaurants) rose 2 percent unadjusted compared to last year and 0.1 percent seasonally adjusted from December.

January retail sales figures released by the U.S. Commerce Department show total retail sales (which include non-general merchandise categories such as autos, gasoline stations and restaurants) increased 0.3 percent seasonally adjusted from a month earlier and 4.6 percent unadjusted year-over-year.

"The January numbers are indicative of the issues consumers are facing, including the housing slump, a sluggish employment sector and high energy prices," said NRF Chief Economist Rosalind Wells. "We expect to see marginal improvements in the second half of the year once consumers begin to receive their rebate checks."

Helped in part by winter clearance sales and other weather- related purchases, sales at clothing and clothing accessories stores increased 1.4 percent unadjusted year-over-year and 1.4 percent seasonally adjusted month-to-month. Health and personal care stores sales also saw moderate increases with sales rising 3.5 percent unadjusted compared to last year and 0.8 percent seasonally adjusted from December.

General merchandise stores sales increased 3.5 percent unadjusted year-over-year and 0.1 percent seasonally adjusted month-to-month.

Stores selling home-related merchandise saw the biggest sales declines.

Sales at furniture and home furnishings stores decreased 4.3 percent unadjusted compared to last year and 0.5 percent seasonally adjusted compared to the prior month. Building material and garden and equipment stores sales decreased 5.8 percent unadjusted year- over-year and 1.7 percent seasonally adjusted month-to-month.

Tax rebate checks to bolster spending

A new survey finds that many families are planning to both save and spend when their tax rebate checks are distributed.

The National Retail Federation survey, conducted by BIGresearch, shows that consumers plan to spend 40.6 percent of tax rebate checks when they are distributed, which will provide a $42.9 billion boost to the economy.

The survey also found that the $105.7 billion distributed in tax rebates will be used to pay down debt ($30 billion), be saved ($19.8 billion), invested ($4.4 billion) and used to pay medical bills ($4.6 billion).

"Tax rebate checks should have the desired effect of both bolstering the economy in the short-term and putting consumers in a better position to spend for the future," said NRF President and CEO Tracy Mullin. "This stimulus package is a crucial component to economic recovery and will provide much-needed relief to American shoppers."

The Recovery Rebates and Economic Stimulus for the American People Act of 2008, a $152 billion measure, will provide tax rebate checks of up to $600 per working individual and $1,200 per married couple, plus $300 per child for families with children and tax incentives for job-creating business investments.

While women will spend a larger percentage of their rebate check than men (43.6 percent vs. 37.3 percent), both genders plan to set aside the same percentage for savings (18.7 percent). Young adults between the ages of 18 and 24 will spend more of their checks (46.2 percent) than any other age group.

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