Businesses expect Valentine’s Day profits to stay stable

While many dread it, or outright try to ignore it, some local business owners salivate over the weeklong spending frenzy leading up to Valentine's Day.

Many florists, jewelers and restauranteurs are putting in extra hours and taking on extra staff, hoping to maximize on the influx of cash amid a lean economy.

“January was brutal, that's the only word for it,” said Frank Bowman, owner of the Linn Street Cafe in Iowa City. “It's always a slow month but it was especially slow this year.”

Bowman said all of the tables for the Valentine's Day weekend have been reserved. People will always shell out money on Valentine's Day, even in a tight economy, he said.

“For couples who've been together a while, it's a planned date night,” Bowman said. “People who haven't been together long, the guy's perspective is ‘I gotta impress her with a really nice dinner.'"

The National Retail Federation is projecting that Americans will spend more than $14.1 billion for Valentine's Day this year, $300 million less than last year's projection. The NRF's survey also found that married couples plan to spend an average of $4 less than they did last year, but that non-married purchases should increase modestly.

Terry Dickens, co-owner of Herteen & Stocker Jewelers in Iowa City, says that he's seen about a 10 percent bump in Valentine's Day shoppers, but that customers are spending much less than last year.

“It's a lot more smaller purchases,” Dickens said. “And with the price of gold being so expensive, we're seeing a lot more sterling (silver) items selling.”

Dickens said that a third of his business has come from men looking to an engagement rings for Valentine's Day proposals.

“People are still popping the question and getting married,” Dickens said. “It's the one area of our business that's pretty much recession proof.”

And people appear to still be buying roses for the sake of convention.

“The people who want roses have no problem spending for those roses,” said Sally Stejskal. She and her husband, Kenneth, own and operate Stejskal Florists in southwest Cedar Rapids. She said many younger customers are bucking tradition and buying more mixed floral arrangements, as well as other types of red, pink and white flowers.

“The tide has turned away for some from roses,” Stejskal said. “I think the consumer has been exposed to a bigger variety of flowers and more availability with the Internet.”

Stejskal also expects this year's Valentine's Day profits to surpass last year's totals. In part, she attributes this to the holiday falling on a Sunday, but she also has a sunnier outlook.

“People might be more optimistic,” Stejskal said. “They might be tired of snow and winter and ready for a little brightness.”