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US retail trade group expects holiday season sales to grow more slowly
Read full article: US retail trade group expects holiday season sales to grow more slowlyThe largest retail trade group in the United States says it expects consumers to spend more during the upcoming holiday season but the growth in sales to be slower than last year due to concerns over persistent inflation and prices.
โDevastating consequences for American workersโ: National Retail Federation calls on President Biden to end port strike
Read full article: โDevastating consequences for American workersโ: National Retail Federation calls on President Biden to end port strikeThe National Retail Federation is urging the Biden administration to intervene in a labor strike affecting U.S. East and Gulf Coast container ports, which has disrupted operations since the master contract between the International Longshoremenโs Association and the United States Maritime Alliance expired on September 30.
US retail sales to increase between 2.5% and 3.5% in 2024, trade group forecasts
Read full article: US retail sales to increase between 2.5% and 3.5% in 2024, trade group forecastsThe largest U.S. retail trade group is forecasting that the country's retail sales will increase anywhere between 2.5% and 3.5% this year.
Retail group pulls back on claim organized retail crime accounts for nearly half of inventory loss
Read full article: Retail group pulls back on claim organized retail crime accounts for nearly half of inventory lossThe National Retail Federation has revised a report released in April that pulls back the claim that organized retail crime accounts for nearly half of overall industry shrink, which measures overall loss in inventory, including theft.
Cyber Monday marks the year's biggest online shopping day, and one more chance to save on gifts
Read full article: Cyber Monday marks the year's biggest online shopping day, and one more chance to save on giftsConsumers are scouring the internet for online deals as they begin to cap off the five-day post-Thanksgiving shopping bonanza with Cyber Monday.
Retail trade group: holiday sales expected to slow to 3% to 4%, compared with 5.4% growth a year ago
Read full article: Retail trade group: holiday sales expected to slow to 3% to 4%, compared with 5.4% growth a year agoThe National Retail Federation, the nationโs largest retail trade group, expects shoppers will spend more this year than last year, but their spending pace will slow given all the economic uncertainty.
An Easter primer: Facts, figures you might not have known about the celebration
Read full article: An Easter primer: Facts, figures you might not have known about the celebrationHereโs a synopsis of both the historical elements of Easter that people might not know about, and the modern financial windfall Easter is expected to be in 2022.
Retail group: Holiday sales up slower-than-expected 5.3%
Read full article: Retail group: Holiday sales up slower-than-expected 5.3%Sales growth for the holiday 2022 season slowed more than expected from its blistering pace a year ago as higher borrowing costs and higher inflation made shoppers pull back, according to the nationโs largest retail trade group.
December retail sales fall 1.1% as inflation takes a toll
Read full article: December retail sales fall 1.1% as inflation takes a tollAmericans cut back on spending in December, the second consecutive month theyโve done so, underscoring how inflation and the rising cost of using credit cards slowed consumer activity over the crucial holiday shopping season.
Despite supply issues and omicron, holiday sales rise 8.5%
Read full article: Despite supply issues and omicron, holiday sales rise 8.5%Holiday sales rose at the fastest pace in 17 years, even as shoppers grappled with higher prices, product shortages and a raging new COVID-19 variant in the last few weeks of the season, according to one spending measure.
Retail trade group: holiday sales could set new record
Read full article: Retail trade group: holiday sales could set new recordThe National Retail Federation expects that holiday sales gain could shatter last yearโs record-breaking season even as a snarled global supply chain slows the flow of goods and results in higher prices for broad range of items.
All-time high of more than $10 billion is expected to be spent on Halloween 2021, according to this group
Read full article: All-time high of more than $10 billion is expected to be spent on Halloween 2021, according to this groupWhether itโs shortages that are driving up prices of certain items or enthusiasm for the day in general, one thing is clear: It looks like there will be a lot of money spent on Halloween this year.
Consumer spending this Halloween expected to reach all-time high of $10.14B
Read full article: Consumer spending this Halloween expected to reach all-time high of $10.14BConsumer spending on Halloween-related items is expected to reach an all-time high of $10.14 billion, up from $8.05 billion in 2020, according to the National Retail Federation.
US consumers rebound to boost spending 2.4% as income jumps
Read full article: US consumers rebound to boost spending 2.4% as income jumpsThe January spending increase followed two straight monthly spending drops that had raised concerns that consumers, who power most of the economy, were hunkered down, too anxious to travel, shop and spend. Consumers saved a significant chunk of their income last month: The personal savings rate jumped to 20.5% from 13.4% in December. It was the highest savings rate since May of last year in the aftermath of pandemic's eruption. AdGregory Daco, chief economist at Oxford Economics, said he thinks the high savings rate, combined with pent-up consumer demand and further federal aid, will lift economic growth this year to 7%. โThe combination of a healthier economy and more government stimulus should generate a strong rebound by the middle of the year.โ
U.S. retail sales fell in December for 3rd straight month
Read full article: U.S. retail sales fell in December for 3rd straight month(AP Photo/John Raoux)NEW YORK โ Retail sales fell for a third straight month as a surge in virus cases kept people away from stores during the critical holiday shopping season. The U.S. Commerce Department said retail sales fell a seasonally adjusted 0.7% in December from the month before. Department store chain Nordstrom, lingerie seller Victoriaโs Secret and clothing retailer Urban Outfitters all said sales fell during the holidays. The Commerce Department said shoppers cut back on spending at electronic and department stores. At clothing stores, sales rose 2.4% after dropping 16% for the year.
Retail trade group sees solid holiday sales despite pandemic
Read full article: Retail trade group sees solid holiday sales despite pandemicNEW YORK โ The National Retail Federation, the nation's largest retail trade group, expects that holiday sales could actually exceed growth seen in prior seasons, despite all the uncertainty surrounding the pandemic. Holiday sales have averaged gains of 3.5% over the past five years. Not included in total sales figure are sales from restaurants, gas stations and auto dealers. Still, the NRF cited that the aggregate retail sales have seen a V-shaped recovery, growing both month-over-month and year-over-year each month since June. For the first ten months of this year, retail sales rose 6.4% compared with the first 10 months of 2019.