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The original item was published from 3/4/2016 4:51:29 PM to 3/19/2016 12:00:08 AM.

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Bristol News

Posted on: March 4, 2016

[ARCHIVED] 2015 reflects best in retail sales since great recession

Bristol continues to see double-digit sales growth with a record-setting holiday sales season. East Tennessee State University economics professor Steb Hipple stated in a recent sales report that Bristol saw a 19.4 percent increase in sales over the year 2014. Sales increased to $333 million. “Bristol has enjoyed a double-digit sales growth for the last three-quarters,” Hipple said, “Thanks to the new stores opening at the Pinnacle development in Bristol Tennessee and the Falls in Bristol, Virginia,” Hipple continued. For the whole year, 2015, dollar sales increased 12.7 percent in Bristol, 5.4 percent in Kingsport and 4.5 percent in Johnson City.

“We are very pleased with our performance during the last quarter. We achieved record sales during an outstanding holiday season in Bristol, with particular significant year-over-year growth in the city’s retail business,” said Mayor Lea Powers. She also added, “The Pinnacle delivered strong results exceeding our expectations. The results continue to reflect increases in our overall sales. As we continue to see build-out activity in the Pinnacle development we remember our community partner Johnson and Associates. Steve Johnson had the vision and made the investment to make that vision a reality.” The Pinnacle is one of the region’s premier shopping destinations, which on a consistent basis sees new growth in retail development.

Hipple also reported that 2015 was overall the best year in local retailing since the Great Recession of 2008-09, but that any slowdown nationally could impact the region’s business. For more information contact Finance Director, Tara Musick at 423-989-5646 or email tmusick@bristoltn.org.

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