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NRF

Retailers say credit insurance plan could increase liquidity during pandemic downturn

Retailers say credit insurance plan could increase liquidity during pandemic downturn

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

NRF postpones ‘Big Show’ until June 2021

NRF postpones ‘Big Show’ until June 2021

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

NRF chief economist says pandemic recession could already be easing but ‘no one has a crystal ball’ 

NRF chief economist says pandemic recession could already be easing but ‘no one has a crystal ball’ 

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

May retail sales improve dramatically over April but way down from last year

May retail sales improve dramatically over April but way down from last year

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

NRF issues statement on incidents at retail stores following death of George Floyd

NRF issues statement on incidents at retail stores following death of George Floyd

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

NRF says ‘uncertainty abounds’ in predicting recovery from coronavirus pandemic 

NRF says ‘uncertainty abounds’ in predicting recovery from coronavirus pandemic 

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?

Estimated March imports hit five-year low, says NRF

Estimated March imports hit five-year low, says NRF

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

NRF reports 2019 holiday sales were up 4.1%

NRF reports 2019 holiday sales were up 4.1%

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.

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

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

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

As new year unfolds, retail sales outlook encouraging

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