State's Private Retailers See Increases in 2011

by Mark Friedman  on Monday, May. 21, 2012 12:00 am  

Frank Fletcher Cos. remained the third-largest private retailer in Arkansas, although its revenue dropped 12.3 percent to $675 million in 2011. But that negative number is entirely because the company sold, on the last day of 2010, its two manufacturing subsidiaries, Silverwood Products Inc. and Cheyenne Industries. Excluding the $125 million revenue those subsidiaries generated in 2010, Frank Fletcher’s revenue would have climbed 8 percent in 2011. Its business portfolio includes auto dealerships and the Wyndham Hotel.

Arkansas Business also found a couple of companies that should have been on the list last year but weren’t. The new and used auto dealer Landers Toyota of Little Rock is No. 10 on the retailer’s list with $241.7 million in revenue, which was up 1 percent from 2010.

The Lewis Auto Group of Fayetteville also should have been on the list last year. In 2011, it had $91 million in revenue, an increase of 13.8 percent over the previous year.

Leaving the retail list was Forrest City Grocery Co. of Forrest City. Its 2010 revenue was estimated at $725 million. But Forrest City’s wholesale grocery business was sold in April 2010 to the publicly traded Core-Mark Holding Co. Inc. of South San Francisco, Calif.

A remaining asset of Forrest City Grocery was its subsidiary, Tobacco Superstores of Forrest City. Tobacco Superstores had $110 million in revenue in 2011, which was good enough for No. 15 on the list of retailers.

One of the retail trends that disturbs the economist Deck is that consumers had easier access to credit.

And consumer debt “is at very high levels despite all the bankruptcies and foreclosures during the recession and its aftermath,” she said.




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