AFTER TWO QUARTERS OF STRONG GROWTH, RETAIL PERFORMANCE IN THE TRI CITIES HAS HIT A BUMP IN THE SPRING MONTHS. FOR EXAMPLE, KINGSPORT LOST A MAJOR RETAIL OUTLET AND RETAIL SALES ARE DOWN, BUT OVER THE NEXT YEAR, A NUMBER OF NEW RETAIL STORES WILL OPEN, AND SALES NUMBERS SHOULD REBOUND. EAST TENNESSEE STATE UNIVERSITY ECONOMIST DR. STEB HIPPLE TALKS ABOUT THE LATEST TRI CITIES RETAIL SALES REPORT AND WHAT IT MEANS.
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INSTEAD, THEY’RE TENDING TO INCREASE SAVINGS AND PAY DOWN THEIR DEBTS. RETAIL PERFORMANCE IN THE SECOND QUARTER WAS WELL OFF THE PACE IN THE FIRST QUARTER, AND IN THE PAST FEW YEARS. WHAT DOES HE LOOK FOR THE FALL TO BRING?
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DR. STEP HIPPLE.