Lupin 2024

National Retail Federation

NRF to honor Walmart’s Doug McMillon as ‘Visionary’

NRF to honor Walmart’s Doug McMillon as ‘Visionary’

WASHINGTON — The National Retail Federation will recognize Walmart president and chief executive officer Doug McMillon as “The Visionary,” an annual award honoring outstanding retail industry leaders The award will be presented to McMillon at the 2018 NRF Foundation Gala on Jan. 14 in New York City. “From risk-taking acquisitions like Jet.com to investing in

Plan for border adjustment tax abandoned by GOP

WASHINGTON — Retailers applauded congressional Republicans’ move to give up their pursuit of the border adjustment tax (BAT). Prior to GOP leaders’ announcement of the decision on July 27, retailers that receive many of the goods they sell from overseas had expressed concerns about the BAT, claiming that it would pass hefty costs on to

Retail industry hails GOP’s decision to shelve BAT

Retail industry hails GOP’s decision to shelve BAT

WASHINGTON — Retailers applauded Republicans’ move to give up their pursuit of the border adjustment tax (BAT). Prior to GOP leaders’ announcement of the decision on Thursday, retailers that receive many of the goods they sell from overseas had expressed concerns about the BAT, claiming it would pass hefty costs on to ­consumers. The week

Back-to-school spending expected to climb

Back-to-school spending expected to climb

NEW YORK — Back-to-school spending is forecast to rise this season, according to recent surveys from the National Retail Federation and Deloitte LLC. Families with children in elementary through high school plan to spend an average $687.72 each, for a total of $29.5 billion, an 8% increase from last year’s $27.3 billion, according to the

Senate Republicans unveil Obamacare replacement plan

Senate Republicans unveil Obamacare replacement plan

WASHINGTON — After weeks of working behind closed doors to draft a bill to replace Obama­care, Senate Republican leaders released the Better Care Reconciliation Act and set about finding 50 votes to pass it. Like the American Health Care Act that passed the House in May, the Senate bill represents a major revision to the

American Health Care Act falls short on coverage

American Health Care Act falls short on coverage

WASHINGTON — The drive to repeal and replace Obama­care has hit a roadblock. The Congressional Budget Office found that the G.O.P.-led American Health Care Act (AHCA) would leave 23 million more people uninsured in a decade. The CBO assessment cast further doubt on the chances of the Senate passing a similar bill to the AHCA,

High court rules on card fees

WASHINGTON — Two recent Supreme Court decisions offered good news to retailers regarding their ongoing fight over the fees they pay on credit and debit card transactions. Late last month the Supreme Court declined to hear an appeal that sought to reinstate a $7.25 billion antitrust settlement of price-fixing charges against MasterCard Inc. and Visa

Valentine’s Day shopper spending to dip

Valentine’s Day shopper spending to dip

WASHINGTON — Consumer spending on Valentine’s Day is expected to slip this year after a decade of annual increases, according to the National Retail Federation. U.S. consumers are expected to spend an average of $136.57 on the holiday this year, according to the annual survey released by the NRF and Prosper Insights & Analytics. That

NRF: 2016 holiday retail sales rose 4%

NRF: 2016 holiday retail sales rose 4%

WASHINGTON — The National Retail Federation is out with figures showing that holiday retail sales reached $658.3 billion in November and December, a 4% increase from the previous year and surpassing the NRF’s preseason forecast for $655.8 billion in holiday spending. The number includes $122.9 billion in online (dubbed non-store sales by NRF) sales. That

Holiday sales at drug chains are lackluster

NEW YORK — Holiday sales at drug chains edged up slightly versus a year ago, as uncertainty over the economy left consumers wary of boosting their spending. Another crimp on sales growth was deep discounts. While retailers trimmed inventory for the holiday season to avoid having to clear out overstocks with price cuts, consumers were

Holiday sales at drug chains up slightly

Holiday sales at drug chains up slightly

NEW YORK — Holiday sales at drug chains edged up slightly versus a year ago, as uncertainty over the economy left consumers wary of boosting their spending. Another crimp on sales growth was deep discounts. While retailers trimmed inventory for the holiday season to avoid having to clear out overstocks with price cuts, consumers were

Optimism surrounds holiday shopping season

Optimism surrounds holiday shopping season

NEW YORK — Pervasive optimism over the economy and strong early online sales signaled a robust holiday shopping season. Economic growth, a lack of inflation, rising wages and low unemployment have buoyed consumers and augured a willingness to spend significantly through December. And while many shoppers are favoring online purchases, the general enthusiasm was also

Retailers hail decision blocking overtime rule changes

Retailers hail decision blocking overtime rule changes

WASHINGTON — Retailers applauded a judge’s ruling preventing the Department of Labor’s changes to a federal overtime rule from taking effect on Dec. 1. U.S. District Judge Amos Mazzant issued a preliminary injunction blocking implementation of a Labor Department rule that would have required businesses to pay overtime to employees making less than $47,476 a

Retailers’ hopes rise as holiday season nears

Retailers’ hopes rise as holiday season nears

NEW YORK — Consumers are expected to increase their spending this holiday season, bolstered by an economy that is showing signs of strength. The National Retail Federation (NRF) expects sales in November and December (excluding cars, gasoline and restaurant sales) to increase 3.6% to $655.8 billion. That is significantly higher than the 10-year average of

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