Tag Archives: sales tax

Kitsap retail sales up 10 percent in first quarter

Retail sales increased 9.7 percent in Kitsap County during the first three months of the year, outpacing the statewide growth in sales.

shoes6_22899584_ver1.0_640_480Kitsap establishments reported $914 million in taxable sales in the first quarter of 2016, compared with $834 million in the first quarter of 2015, according to the state Department of Revenue.

Retail trade sales (subset of retail sales that includes transactions made by dealerships, stores and other businesses selling merchandise directly to consumers) were up 6.7 percent, marking the largest percentage increase in the region.

Statewide, retail sales grew 8.9 percent in the first quarter and retail trade sales grew 5.1 percent.

Here’s a chart showing sales growth in Puget Sound area counties:

Sales by industry

Major retail trade industries reporting increased sales included auto dealers and parts stores (up 12.4 percent), building and garden material suppliers (up 10.7 percent),  drug and health stores (up 31.3 percent), and sporting goods, toys, book and music stores (up 7.1 percent).

General merchandise stores experienced a 1.5 percent dip in sales, after enjoying a strong fourth quarter.

Outside of retail trade, building construction climbed 24.7 percent, manufacturing 7.1 percent, wholesale trade 16.5 percent, and accommodations and food services 12.5 percent.

Here’s a full breakdown of sales by industry (click the full screen button to avoid squinting):

Kitsap retail sales up 8 percent in first quarter

Retail sales got off to a fast start in Kitsap in 2015.

Taxable sales in the county were up 8.1 percent in the first quarter of the year, compared with the same period of 2014, according to the Department of Revenue. That was just shy of the 9 percent growth recorded statewide.

Retail trade sales (sales made by stores, dealerships and other sellers of goods) were up 8.2 percent in Kitsap, outpacing statewide growth.

Retail trade sales in Kitsap are now higher than they were before the recession. Sales in other industries, like construction, manufacturing, and hospitality, are still catching up.

Kitsap businesses enjoyed record-setting fourth quarter sales

The fourth quarter of 2014 was kind to Kitsap County retailers.

Taxable sales across all industries in Kitsap were up 4.26 percent in October, November and December of 2014, compared with the same months of 2013.

Retail trade sales (sales made by traditional stores, dealerships, etc.) were up 5.56 percent, according to numbers released Monday by the state Department of Revenue.

Retailers posting the largest revenue gains in 2014 included auto dealers, drug stores, building material sellers, home furnishing stores and e-commerce enterprises.

More impressive than the year-over-year gains, sales in the fourth quarter of 2014 actually topped pre-recession highs:

With the fourth quarter numbers in the books, we can see how 2014 stacked up against previous retail years. While retail trade sales have rebounded from the recession, other industries are still catching up:

Avalara’s McFarlane named ‘CEO of the Year’

Bainbridge Island-based Avalara has been making waves lately, and the tech world has taken notice.

News site GeekWire named Avalara executive Scott McFarlane “CEO of the Year” at its 2015 awards ceremony last week.

The site noted the $100 million investment Avalara recently received, which spurred even more growth at the 800-employee business.

According to GeekWire, McFarlane studied economics at Claremont McKenna College in California, and founded a fitness equipment company with his college roommate. He’s been with Avalara since its founding in 2004.

“I might be the luckiest person on earth,” McFarlane said in his acceptance speech. “I have great investors and great Avalarians that bleed orange every single day. This is for you guys.”

Avalara specializes in sales tax compliance software.

Retail sales continued to climb in 2014

shoopersWe now have retail sales data for the first three quarters of 2014, and the numbers are looking good.

Taxable sales across all industries were 7.5 percent higher during the third quarter of 2014 than during the same months of 2013, according to a report from the Department of Revenue.

Retail trade sales (sales made by traditional stores, dealerships, online sellers, etc.) were up by 5.7 percent.

This was the first quarter taxable sales for recreational marijuana were included in DOR’s report. Those totaled about $1.5 million in Kitsap for all of 2014.

We’ll find out how retailers faired during the holiday season, and 2014 as a whole, when fourth quarter numbers are released this summer.

Here are charts showing sales over the first three quarters of 2014, as well as longterm sales trends in the county:

$100M investment announced by Avalara

gI_113668_PrimaryLogo_Tagline_RGB_Bainbridge Island sales tax software firm Avalara announced a $100 million investment Monday.

The injection of capital came from an affiliate of private equity firm Warburg Pincus, according to a news release.

“This investment by Warburg Pincus will allow us to put more dollars to work in our growth initiatives,” Avalara founder and CEO Scott McFarlane said in the announcement. “It also validates our fundamental belief that sales tax compliance automation is inevitable, and Avalara is at the forefront of this movement.”

According to the release, the company’s growth plans include international expansion and strategic acquisitions. Including the investment by Warburg Pincus, Avalara has raised more than $200 million since 2004.

Avalara provides cloud-based software that helps companies comply with complex sales tax requirements. The company’s headquarters are located in the Island Gateway development, near Highway 305.

According to the Puget Sound Business Journal, the Warburg Pincus investment comes amid rumors Avalara could go public.

Follow business reporter Tad Sooter on Twitter at @tsooter. Contact him at tad.sooter@kitsapsun.com or leave a comment below.

Port Orchard is state’s fastest growing retail market

POwalmarttopretailRetail sales in Port Orchard grew at a faster rate than in any city in the state between 2008 and 2013.

That’s according to the Washington State Retail Survey, which recently published a list of fastest growing retail markets.

Port Orchard topped the rankings, posting an average annual increase of 9 percent over the six-year period.

The survey looked only at sales by traditional retail trade businesses like stores and dealerships to compile the list. It didn’t include taxable sales made in other industries like construction and manufacturing.

So what spurred Port Orchard’s rampant growth in sales? For starters, the city itself was growing.

Port Orchard went on an annexation spree during the years sampled for the rankings, roping in Bethel Corridor and other areas south of downtown. That brought Fred Meyer and a swath of commercial property into the city’s fold. The Port Orchard Walmart also upgraded to a Walmart Supercenter in 2012.

The addition of Fred Meyer and expansion of Walmart appeared to have a meteoric effect:

Here’s a more detailed breakdown of Port Orchard sales activity, provided by the Washington State Retail Survey: Continue reading →

Retail sales picked up across Kitsap in 2013

Some are still digging out from the recession, some are reaching new heights, but all Kitsap cities reported growth in retail sales last year.

The chart below shows total taxable sales by year, as reported to the state Department of Revenue, which released fresh figures from 2013 last week.

These sales include stores, along with many services, and industries like construction and hospitality. Wave your pointer over the lines to see exact values:

Growth was rampant in Port Orchard, which posted 17 percent gain in sales between 2012 and 2013. Bremerton recorded the slowest growth but is still trending upward.

The Department of Revenue also broke out retail trade statistics for 2012 and 2013. Retail trade includes stores, dealerships and online sellers and excludes services and industries like construction.

Here’s a look at just retail trade sales by city: Continue reading →

Report: Bainbridge Island’s Avalara could go public

gI_113668_PrimaryLogo_Tagline_RGB_Bainbridge Island tax software company Avalara could soon go public, according to Emily Parkhurst of the Puget Sound Business Journal.

Parkhurst reports the company is preparing to file an S-1 form with the Securities and Exchange Commission, a first step toward trading stock publicly.

As she notes, Avalara recently raised capital from its existing investors and could be poised for rapid growth as more Internet retailers are required to collect sales tax. The company is even working with Bitcoin.

Avalara provides software for sales tax calculation and compliance.

Read the full PSBJ story here.

Holiday retail sales in Kitsap rivaled pre-recession highs

blog.retail

The 2013 holiday season was kind to Kitsap retailers, according to number released Tuesday by the state Department of Revenue.

Retail trade, which includes traditional stores, dealerships and online sellers, generated $487,117,141 in taxable sales in October, November and December. That was a 5 percent improvement over the fourth quarter of 2012. Car dealers, blog.retail2furniture stores, sporting goods suppliers and e-commerce, did especially well.

Sales for all industries were up 6.4 percent from 2012, totaling $895,050,130. Industries showing healthy growth included manufacturing, construction, information (software, telecom, print and other media) and restaurants.

Kitsap sales were in step with the rest of Washington, which saw a 5.8 percent rise in overall sales in the fourth quarter.

The long-term trend is positive for our county. Fourth quarter retail trade sales have climbed steadily since 2008 and are close to matching the pre-recession high of $493,353,867 recorded in 2006.

Fourth quarter sales in all industries have been on the rise since 2009 and are also closing in on a 2007 high of $925,280713.

Kitsap also enjoyed a 6 percent rise in third quarter sales last year.

A detailed breakdown of fourth quarter retail sales in Kitsap for 2012 and 2013 is posted below. Use the zoom or full screen buttons at the bottom so you don’t have to squint: Continue reading →