HONOLULU — Although same-store sales improved last quarter, First Hawaiian Bank cautions that all is not necessarily well.
“While we are encouraged by these continued healthy results, we are beginning to see a slowing of sales growth,” said Keith Nagata, senior vice president and Business Services Division manager, in an FHB news release.
During the third quarter, same-store sales increased nearly 8 percent compared to last year, FHB’s third-quarter “Business Activity Report” announcement states. This follows second-quarter growth of 8 percent and first-quarter growth of more than 10 percent.
The sales report tracks activity in 16 economic sectors — including automobiles, retail, hotels, home improvement, restaurants, shipping and travel — throughout Hawai‘i, Guam and CNMI. FHB is the largest processor of merchant services in the state, with more than $3.8 billion worth of credit and debit card sales transactions during 2010, the release states.