Retailer of the Year
Special Recognition
Legislator of the Year
Retail Industry Update
News and Notes from Around the State
- Retail business leaders from across the state gathered at the Bushnell Center for the Performing Arts in Hartford on Wednesday morning for the annual Connecticut Retail Network BIG Fall Event and presentation of our Retailer of the Year award.
Retailer of the Year
- CRN was proud to recognize Michael and Christine Disibio and The Disibio Companies as Retailer of the Year in Connecticut, the highest honor bestowed by our Association.
- You probably know them best by their retail brands… their first New Balance store opened in May 2006, their second in Avon in 2009, a third in Cranston, RI in 2015. In 2018 they opened Vionic by Disibio in South Windsor; and last year purchased Connecticut Mattress and now operate four Connecticut Mattress stores in South Windsor, Avon, Southington, and Newington.
- We enjoyed a short video highlighting the growth of The Disibio Companies, and heartfelt words of appreciation from Michael Disibio. CRN congratulates our Retailer of the Year, a terrific Connecticut retailer, for their commitment to customer service and their local communities.
Special Recognition
- At this year’s BIG Event, the Connecticut Retail Network also presented a Special Recognition Award of the Iffland Lumber Company, which has been serving the Torrington area since 1903 offering a complete line of home improvement products and building materials for do-it-yourself customers, contractors, and architects.
- President Vern Pesce told the story of how what started out for him as a summer job when he was a teenager grew into a four-decade plus career with the company.
Legislator of the Year
- Rep. Kerry Wood, a strong supporter of the retail industry, received recognition as the CRN Legislator of the Year, for her commitment to advancing legislative proposals that are responsive to the industry in Connecticut.
- Rep. Wood also shared her views on one of CRN’s legislative priorities – association health plans – expected to be on the agenda in the 2024 session.
Retail Industry Update
- Those in attendance on Wednesday also heard a very timely presentation from Mark Matthews, Vice President, Research Development & Industry Analysis for the National Retail Federation.
- With the holiday shopping season soon upon us, Mark gave an insightful presentation on the current state of the retail economy, the health of the consumer and the impact of those two factors on retail business.
- He also discussed the key trends we are seeing in terms of consumer attitudes and behavior, with charts and graphs highlighting the latest data and responded to numerous questions from retailers in the audience.
News and Notes from Around the State
- After long ownership by private equity investors, Connecticut’s biggest homegrown toy company is being acquired anew — this time by toy maker Spin Master – in a deal to buy Melissa & Doug for $950 million from AEA Investors. Hearst CT Media reports on the deal here.
- Connecticut’s Comptroller Sean Scanlon launched the inaugural Annual Loss Report this week. The initiative aims to shed light on state government property losses and enhance the reporting standards across state agencies. CTNewsJunkie has the details here.
- Connecticut recreational cannabis industry sales hit a new monthly high in September of more than $14.3 million. Hartford Business Journal has the numbers here.
- Connecticut has left hundreds of millions of dollars unspent in its transportation fund since 2021 — and is projecting another huge surplus in the program this fiscal year. CT Mirror reports on the surplus here.
- In Connecticut, the average price for a gallon of gasoline fell 5 cents over the past seven days, according to a national survey of the states. Details from CTNewsJunkie here.