Newspaper article THE JOURNAL RECORD

Retail Sales Up 6.7% at Shopping Centers

Newspaper article THE JOURNAL RECORD

Retail Sales Up 6.7% at Shopping Centers

Article excerpt

Retail sales at Oklahoma shopping centers increased 6.7 percent in 1989 to a four-year high of $7.9 billion, according to a report by the International Council of Shopping Centers.

That accounted for 50 percent of all nonautomotive retail sales in the state, the New York City group said.

In 1988, purchases at shopping centers in the Sooner State totaled $7.4 billion, or 49 percent of total nonautomotive retail trade.

State sales tax revenues from purchases at Oklahoma shopping centers increased 7.8 percent in 1989 to $317 million from $294 million. The 1989 result was the highest recorded by the International Council in its four-year history of shopping center activity.

The increase in sales activity came despite a 0.5 percent decline in the state's estimated population, to 3.22 million in 1989 from 3.24 million the previous year, the report noted. Per capita total personal income in Oklahoma, however, increased 6 percent in 1989 to a four-year high of $14,143 from $13,333.

A total of 517 shopping centers were operated in the Sooner State last year, up 1.3 percent from 510 in 1988. Total leasable retail area increased 2.6 percent to 53.8 million square feet from 52.4 million, the report said.

Employment in shopping centers increased 6.5 percent in 1989 to 97,000 from 91,000 the previous year. That accounted for 8 percent of the state's total nonagricultural employment for both years.

The number of shopping centers has increased 5.9 percent since 1986, when 488 operated in Oklahoma. …

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