WASHINGTON – The National Retail Federation welcomed a report released this week calling for a federal backstop for trade credit insurance, saying the proposal could help provide liquidity badly needed by retailers as they recover from the recession brought on by the coronavirus pandemic. “With retailers already ordering merchandise for the holiday season, vendors need
WASHINGTON — The National Retail Federation is postponing its Big Show annual convention and expo, normally held in January, until June 2021. But NRF said Thursday that it also plans to hold a virtual event in January.Both events will feature the theme “Forward Together.” “The health and safety of our team, industry partners and global
WASHINGTON – The economic downturn brought on by the coronavirus pandemic has officially been declared a recession, but National Retail Federation chief economist Jack Kleinhenz said today the key question is how long it will last. “Will this recession be briefer than earlier recessions?” Kleinhenz said. “No one has a crystal ball. And just as
WASHINGTON — The reopening of stores shuttered by the COVID-19 outbreak boosted retail sales in May, which were up dramatically compared to April, the National Retail Federation reported Tuesday. But sales were still way down from the same period last year. “Today’s sales report is very encouraging news at a time when we need to
WASHINGTON – The National Retail Federation issued on Monday the following statement from president and CEO Matthew Shay regarding incidents involving retail stores across the country following the death of George Floyd in Minneapolis: “It is with deep dismay and shared outrage that our communities express their anger and frustration through peaceful protests over the
WASHINGTON – While the reopening of businesses shut down by the coronavirus pandemic is a significant step forward, it is too soon to say how quickly or smoothly the nation’s economy will recover, National Retail Federation chief economist Jack Kleinhenz said on Monday. “Is it possible the worst of the coronavirus pandemic is behind us?
WASHINGTON – New estimates show that imports at major U.S. retail container ports dropped to their lowest level in five years in March, according to the Global Port Tracker report released this week by the National Retail Federation and Hackett Associates. And imports are projected to remain significantly below normal levels through early summer as
WASHINGTON – Holiday retail sales during 2019 grew 4.1% over the same period in 2018 to $730.2 billion, the National Retail Federation said this week. The numbers exclude automobile dealers, gasoline stations and restaurants. Online and other non-store sales were up 14.6% over the year before at $167.8 billion and are included in the total.
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
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
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
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
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
WASHINGTON — Retail sales increased for a third straight month in January. The 0.2% gain matched the previous month’s performance, which the Commerce Department initially reported as a decline but revised upward as more data came in. Economists at the National Retail Federation (NRF) predict retail industry sales this year will exceed their 10-year average