Posted: 06/04/08 Retail Sales Commentary, Jan.-Mar. 2008 Next due: Aug. 26, 2008
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Retail Sales up 8.5% in First Quarter 2008

Retail sales totalled over $1.4 billion in the January to March 2008 period, representing an increase of 8.5% over the same period of 2007. 

Increases in sales were recorded in most store type categories. Growth stemmed mostly from an increase in sales by new car dealers and gasoline stations. The number of new cars sold in the first quarter increased by 26.5% compared to the first quarter of 2007 (Car Sales Bulletin).   

The only store type to register a decrease in sales was the pharmacies and personal care category – down 1.5% over the January to March 2007 period.

Growth in retail sales in Newfoundland and Labrador was higher than the national average. For Canada as a whole, retail sales increase by 6.0% in the first quarter of 2008, relative to the same period in 2007.

According to the Department of Finance’s April forecast, retail sales are expected to grow by 6.5% to $7.0 billion in 2008.
 

Retail Sales by Trade Group

Newfoundland and Labrador: January to March

Retail Sales Trade Group ($ millions)

2007

2008

Actual
Change

Percent
Change
Stores

   Automotive
      New car dealers (1)
      Used and recreational motor vehicle and parts
      Gasoline stations

   Furniture, home furnishings and electronics

   Building and outdoor home supplies

   Supermarkets

   Pharmacies and personal care

   Clothing and accessories

   Sporting goods, hobby, music and book stores

   Other stores (2)

517.4
215.6
123.1
178.7

43.8

70.7

248.2

82.2

34.3

15.3

300.2

592.7
253.3
129.8
209.6

45.9

75.2

253.0

80.7

36.5

17.1

322.7

75.4
37.7
6.7
30.9

2.1

4.6

4.7

-1.5

2.1

1.8

22.5

14.6
17.5
5.5
17.3

4.8

6.5

1.9

-1.8

6.2

11.7

7.5
TOTAL 1,312.1 1,423.7 111.6 8.5
Source: Statistics Canada
(1) New car dealer figures reflect all sales by businesses that predominantly sell new vehicles. As a result the figures displayed here include some used car sales, as well as parts and service labour, and are higher than those appearing in the Car Sales Bulletin. (2) Other stores include department, other general merchandise, convenience and specialty food, beer-wine and liquor, and miscellaneous stores.
 
Statistical Reference: Statistics used in this analysis were the latest available at the time of writing. For the latest in retail trade statistics visit the Newfoundland & Labrador Statistics Agency site and check the release dates on Statistics Canada site.
 
Economic Research & Analysis Division, Department of Finance - (709) 729-3255 - infoera@gov.nl.ca

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