LAFAYETTE, La. (The Advertiser)- Lafayette Parish lost more than $138 million in retail sales this year through May, with the City of Lafayette taking an even bigger hit with a loss of more than $150 million, according to data compiled by the Lafayette Economic Development Authority.
The parish recorded nearly $490 million in sales for May 2020, down 9% or $48.3 million compared to May 2019. But the good news is the sales were up more than 10%, or $45.1 million, from April, when the economy stalled under a stay-home order.
“The positive impacts of moving into Phase 1 reopening in May, the federal Economic Impact Payments, and the additional $600 in weekly unemployment benefits provided by the CARES Act are obvious with increases in monthly sales from April,” Gregg Gothreaux, president and CEO of LEDA, told The Advertiser.
The city of Lafayette appears to have been hit harder than the other municipalities in the parish, down more than $150.4 million on the year, an even larger loss than the parish as a whole. For May, the city’s sales are down 13% or $48.2 million.