Sales of more than $566 million in December pushed 2011 total retail activity to $5.34 billion — the second highest year on record after 2008. December sales were the highest recorded for any December, with the final tally for all of 2011 reflecting a 10.9 percent increase over 2010.
“The 2011 holiday shopping season did not disappoint, and total retail sales easily reached the $5.3 billion LEDA forecasted,” says Gregg Gothreaux, president and CEO of the Lafayette Economic Development Authority. “Steady sales across all categories reflect the diversity and stability of the economy and the confidence of local consumers to invest in big ticket items.”
Along with retail sales, 2011 hotel/motel receipts outperformed 2010 totals. December hotel/motel receipts totaled $4.24 million, 10.6 percent higher than 2010.
For the year, services, building materials and food were the best performing categories with double digit increases — 12.8 percent, 10.6 percent and 9.9 percent, respectively. All other categories showed increases over 2010, except general merchandise, which is down less than 1 percent.
Following three record years, 2006 to 2008, retail sales slumped 11.6 percent in 2009. The following year began with sales down more than 14 percent, but retailers saw a surge in spending in the second half of the year, and the year ended slightly higher than 2009. That surge continued into 2011, with each month showing higher individual monthly sales than in 2010.
C & C Technologies, HIT Fitness, R3 Sciences, the Acadiana Symphony Association and the United Way of Acadiana recognized for innovation.
Under the deal, Teche shareholders would get 1.162 shares of IberiaBank for each share of Teche stock.
Dave Perkins, LCG Comp Plan honored along with local architects and designers at the 2014 INDesign Awards
Greg Manuel’s Lafayette-based residential development company is taking advantage of exponential industrial growth in Lake Charles.
Longtime Lafayette retailer ventures online.
The annual juried competition recognizes excellence in architecture, interior design and historic preservation in Lafayette and the five surrounding parishes.
It’s not how aggressive or conservative you are — it’s planning for risk that matters most.
Cypress Bayou GM hosts open house.
Thanks to cutting-edge digital technology, more and more consumers are banking on ATMs and mobile phones.
Regional bank bids farewell to Downtown May 30
ABiz takes a look back at the most noteworthy moments for the local banking industry over the last year.
Most experts say short-term interest rates will be unchanged through 2014, but long-term rates are inching up.
New hires, promotions, transfers in Acadiana business
The scion of a landmark Four Corners restaurant climbs back into Lafayette’s culinary scene as franchisee for a popular burger chain.
Largest recruitment event in Acadiana returns May 21 to the Cajundome Convention Center
A lawyer’s ad should only be a starting point, as there is much more to consider when seeking quality representation.
Thanks to the inaugural 2012 INNOV8, a design for lifting heavy objects was brought to market.
His company bankrupt and being liquidated, the Lafayette businessman’s financial troubles are mounting.
Georgia-based fried chicken chain would go up against Raising Cane’s, Chick-fil-A and others (like the Popeyes near its proposed location).
A Scott businessman has pleaded guilty to failing to report a conspiracy to award Opelousas Housing Authority construction bids to his company.
Court-appointed examiner says Lafayette businessman was “effectively on both sides” of transactions, opens door for legal action against him.
Lafayette-based insurance broker/risk management group bought by Florida firm for undisclosed sum; principals Landry and Harris continue to run local operations.
The House labor committee rejected bills Thursday that would have set the state minimum wage higher than the hourly federal rate of $7.25 and would have allowed local governments to set their own minimum wage.
Of the major oil- and gas-producing states, Louisiana gained nine rigs, Texas increased by seven, California gained three and New Mexico increased by one.
The Louisiana Workforce Commission said Friday that initial claims rose to 2,101 from the previous week's total of 1,985. There were 2,444 initial claims during the comparable week in 2013.