ADP: Same-store sales up 9 percent in June
Marine dealers increased revenue in June on the strength of increased unit sales, ADP Lightspeed reports.
Total store sales were up 9.1 percent last month compared to 2012, with unit sales up 7.6 percent according to ADP’s survey of dealers. However, both service revenue (down 4.7 percent) and parts sales (down 5.1 percent) declined in June.
“This drop from the May increase of 16 percent has become part of a repeating cycle now seen for the past 26 months: A sharp rise in sales for three or four months, followed by a sharp decline over three or four months,” ADP’s Hal Ethington wrote in a report to Boating Industry. “This pattern reached a peak in May of 2011, and again in May of 2012.”
Based on that pattern, the current decline in growth will bottom out in either August or September, Ethington said.
“This low point should be followed by four to five months of growth extending into May of 2014,” he said.