Although accounting for more than 10 of the states

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Unformatted text preview: tend to be low paid, and many work less than full time. The average annual wage in the retail sector in 2010 was under $27,000 compared with almost $48,000 for all private-sector workers. The retail workforce has shrunk, shedding nearly 14,000 jobs from the peak in 2007. These job losses can be explained by several factors. A sluggish state economy and flagging sales slowed growth in demand. The Retail Sector has consolidated, and many stores have closed. Major closures in the Denver Metro area in 2011 included Saks, Niketown, and Lowes, although the Ikea furniture retailer and H&M clothiers opened new stores in the state. Retailers continue to look for productivity enhancements, including supply-chain efficiencies in retailers such as Walmart. 2012 Colorado Business Economic Outlook Coloradans spent more than $62 billion at retail establishments in 2010. The largest total expenditures occurred in food and beverage stores, which accounted for more than 21% of the total. Sales in general merch...
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This note was uploaded on 02/11/2013 for the course MGMT 231 taught by Professor Yu during the Spring '13 term at Bauder.

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