RETAIL IS ON THE RISE
HIDDEN FEES COSTing THOSE WITH 401(k)s, report says
Whatcom County’s first quarter sales show 8.9 percent spike from 2011 By Evan Marczynski evan@bbjtoday.com
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ith retail trends in 2010 pointing to an uncertain future, opening an apparel store in a small town was a gamble. Yet Barb Scoggins did so with Find Your Fashion, her clothing store located in the Ferndale Station retail center. As the shop reaches its two-year anniversary in August, Scoggins said small-town roots and a local customer base have been major factors in its success. “In this down economy and being in a smaller town, it’s hard to get momentum,” she said. “But I wanted my flagship store to be in Ferndale. I wanted to provide local jobs and convenience for our town.” To celebrate the two-year mark, Find Your Fashion hosts a series of events from Aug. 13-19, including visits from local apparel artists, sales and prize drawings. Alissa Taylor, a lead sales associate, said the store tries to compete with larger retailers in the region by emphasizing customer service– zeroing in on the adage of “quality over quantity.” “We just have a small-town feel,” Taylor said. “A lot of our regular customers, we know their names, we know their families.” Despite the positive response the store’s seen from its regulars, Taylor said she was still surprised by the amount of Ferndale residents she meets who have never heard of Find Your Fashion. That lack of hometown recognition has led to a push for more marketing and advertising. Scoggins also plans to open a second location in Bellingham by the end of the year.
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The Bellingham Business Journal
August 2012
BBJToday
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New disclosure rules inspire local financial planning firm to expand services By Evan Marczynski evan@bbjtoday.com
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Find Your Fashion’s lead sales associate Alissa Taylor, left, and owner Barb Scoggins in the front section of the retail store, located in Ferndale Station. EVAN MARCZYNSKI PHOTO/ (RIGHT) COURTESY OF FIND YOUR FASHION
POSITIVE SIGNS FOR LOCAL SHOPPING Whatcom County retailers showed sound sales numbers in the first quarter of 2012, according to figures released in July by the Washington State Department of Revenue. The county’s taxable retail sales increased 8.9 percent since the
same period last year, an increase higher than the statewide uptick of 4.7 percent. Though Bellingham, with a larger population base and greater number of retailers, accounted for nearly two-thirds of the county’s 2012 first quarter sales total of $716.1 million, the city’s growth rate lagged behind other Whatcom communities.
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Though Bellingham, with a larger population base and greater number of retailers, accounted for nearly two-thirds of the county’s 2012 first quarter sales total of $716.1 million, the city’s growth rate lagged behind other Whatcom communities.
aving for retirement is usually thought to be one of the smartest financial choices one can make. But a recent federal report found nearly half of the people participating in 401(k) retirement plans could be losing chunks of their nest eggs without noticing, due to little-known fees charged by financial firms that sell plans. To increase transparency in the retirement savings market, the U.S. Department of Labor began enforcing new rules in July that require 401(k) plan providers to issue regular reports to sponsors – typically employers offering 401(k) matches to employees – detailing fees charged for administrative services. Devin Wolf, wealth manager and a certified financial planner at Financial Plan Inc. in
Sales in the border city of Sumas, which recorded the highest increase, shot up more than 28
401(K) | Page 4
RETAIL | Page 5
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