Not Even Christmas Could Cheer Up 4th-Quarter Sales
The Christmas season is usually a time of optimism and cheer for retailers. But last year, when retailers complained of sluggish sales and empty malls, they weren’t exaggerating. Statewide, taxable sales were down $2.1 billion from the previous year.
In Orange County, the picture wasn’t much better. Twenty of the county’s 29 cities reported that taxable sales were down, causing the county total to fall by more than 4%, or $300 million, from the same period a year earlier.
For the record:
12:00 a.m. July 9, 1992 For the Record
Los Angeles Times Thursday July 9, 1992 Orange County Edition Business Part D Page 6 Column 1 Financial Desk 1 inches; 24 words Type of Material: Correction
Taxable Sales--Fourth-quarter 1991 taxable sales in Costa Mesa dropped 3.7% from the same period in 1990. A chart on Page D5 on Wednesday showed an incorrect percentage.
Still, Orange County managed to contribute nearly 10% to the state’s coffers.
Making a Contribution
More than half of the state’s revenue from taxable sales were generated in Southern California during the fourth quarter of 1991
(By county in billions of dollars)
Los Angeles: $19.9
Orange: $7.0
San Diego: $5.5
Riverside/San Bernardino: $5.3
San Francisco Bay Area*: $15.2
Rest of state: $18.6
* Includes Alameda, Contra Costa, Marin, San Francisco, San Mateo and Santa Clara counties.
Countywide Taxable Sales
Fourth-quarter taxable sales dropped to a four-year low last year.
In billions of dollars
‘83: 4.5
‘84: 5.0
‘85: 5.4
‘86: 5.7
‘87: 6.4
‘88: 7.0
‘89: 7.4
‘90: 7.3
‘91: 7.0
Gains and Declines
Nearly two out of three Orange County cities reported less taxable income in fourth-quarter 1991 than the same period a year earlier.
More than 10%: 2
5.1% to 10.0%: 3
0.1% to 5.0%: 4
0% to -5.0%: 9
-5.1% to -10%: 8
-10% and below: 3
City-by-City Breakdown
Only nine of the 29 Orange County cities showed an increase in fourth-quarter taxable sales over a year earlier.
In thousands of dollars
Fourth Qtr. Fourth Qtr. Percent City 1990 1991 Change Anaheim $721,005 $676,356 -6.2 Brea 200,331 212,791 +6.2 Buena Park 229,447 202,325 -11.8 Costa Mesa 607,279 584,695 -37.2 Cypress 84,797 88,842 +4.8 Dana Point 52,101 48,158 -7.6 Fountain Valley 165,724 164,523 -0.7 Fullerton 309,374 303,337 -2.0 Garden Grove 287,307 259,107 -9.8 Huntington Beach 397,605 389,140 -2.1 Irvine 500,838 490,751 -2.0 Laguna Beach 49,573 45,855 -7.5 Laguna Niguel 72,784 73,539 +1.0 La Habra 106,311 100,939 -5.1 La Palma 28,367 28,235 -0.5 Los Alamitos 45,718 45,113 -1.3 Mission Viejo 137,790 153,133 +11.1 Newport Beach 237,775 229,384 -3.5 Orange 469,224 455,126 -3.0 Placentia 65,531 61,340 -6.4 San Clemente 70,810 58,584 -17.3 San Juan Capistrano 75,016 70,128 -6.5 Santa Ana 669,751 691,549 +3.3 Seal Beach 28,398 28,779 +1.3 Stanton 59,971 58,619 -2.3 Tustin 197,372 210,463 +6.6 Villa Park 3,277 3,655 +11.5 Westminster 226,277 213,555 -5.6 Yorba Linda 56,912 61,439 +8.0
Source: State Board of Equalization
