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WILLIAMSBURG - Retail stores in Virginia posted a loss in September when compared with last year, which could mean earlier and bigger bargains for Christmas shoppers, according to the latest Virginia Business Report from the College of William and Mary.
“Our sample of retail stores reported 114 percent lower sales per store, demonstrating again that the number of retail suppliers has outgrown consumer demand in some parts of Virginia,” said Roy L. Pearson, director of the Bureau of Business Research and editor of the report.
Even though total retail sales rose last month, the story is quite different for individual merchants, said Mr. Pearson.
“Many types of merchants in many areas are experiencing lower volumes per establishment than at this time last year,” Mr. Pearson said. “That situation suggests retailers may offer more sales early in the Christmas season with more substantial discounts than usual.”
Although retail sales per store were down, the state continued to see a strong building market in September. Building permits, in Virginia soared, the bureau found. The 17 ur
94.2%