The first quarter was "pretty good" for retailers, although there were some weather issues around Valentine's Day that affected some retailers. Nationally, retail has been strong.

For example, according to the National Retail Federation, industry sales for March (which exclude automobiles, gas stations and restaurants) rose 3.7 percent unadjusted over last year and 0.8 percent seasonally adjusted from February. March retail sales released recently by the U.S. Commerce Department show that total retail sales (which include non-general merchandise categories such as autos, gasoline stations and restaurants) increased 0.7 percent seasonally adjusted from last month and increased 3.8 percent unadjusted year-over-year.

Currently retailers are waiting to see what effect soaring fuel prices are going to have on consumer sales, Riek said.

"That's the big concern right now," he said. Mall sales and traffic are doing well, he added.

"We feel really strong about the region and the area," he said, adding he is monitoring the nationwide dip in new home sales, but hasn't yet seen enough of a change in Northwest Indiana to be concerned.