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Entries tagged with: Nrf


Overall retail sales up during September

Hurricane recovery spending contributed to an increase in U.S. retail sales for the month of September. Retail sales increased 0.5% over August on a seasonally adjusted basis, and were up 3.2% year-over-year (YOY) on an unadjusted basis, according to the National Retail Federation. This was lower than advanced estimates from the U.S. Department of Commerce. The department reported that U.S. retail and food services sales for September 2017 were $483.9 billion. This is an increase…  » Read more

Retail jobs down slightly in September

Retail industry employment saw a modest decline in September, decreasing 4,600 jobs from revised August figures, the National Retail Federation said today. The number excludes automobile dealers, gasoline stations and restaurants. The economy overall saw a loss of 33,000 jobs in September. “The recent hurricanes have caused distortions to economic figures and September employment numbers are likely to undergo dramatic revisions,” NRF Chief Economist Jack Kleinhenz said. “The silver lining is that hourly wages continue…  » Read more

NRF survey: Brick-and-mortar traffic holding steady

Although the news of the “retail apocalypse,” poor store sales and bankruptcies has dominated today’s headlines, consumers are still flocking to stores — and retailers should take this as a great sign. As many as 78% of consumers are shopping in stores either about the same or more than they were a year ago, according to a survey from the National Retail Federation (NRF).  At a roundtable discussion at Shop.org, three industry thought leaders shared…  » Read more

New corporate tax proposal could be major boost for retailers

The National Retail Federation welcomed a tax reform proposal released Sept. 27 by the Trump administration and congressional leadership, saying the measure could provide a major boost for the nation’s economy. “We look forward to hearing more details but this is a very positive step forward to achieving the kind of comprehensive tax reform that is needed to keep our nation’s economy competitive in the global environment,” NRF President and CEO Matthew Shay said. “This…  » Read more

NRF launches consumer-behavior quarterly report Consumer View

The National Retail Federation has launched Consumer View, a new quarterly report designed to gauge consumer behavior and shopping trends related to stores, online channels, customer loyalty, technology and other issues. “The retail industry is changing more rapidly than ever before, and this new vehicle will help us continue to regularly track those changes,” NRF President and CEO Matthew Shay said. “Solid research is the basis of informed decisions, and we want to be sure…  » Read more

Target announces $15 minimum wage by 2020; NRF responds

The National Retail Federation released the following statement from President and CEO Matthew Shay in response to the announcement by Target that the company will increase its minimum hourly wage to $11 next month and to $15 by the end of 2020: "With a tightening labor market, competition for talent and the need to retain a skilled workforce, this is one more example of the investments retailers are making to compete successfully in an era…  » Read more

Retailers ask labor department to take state of economy into OT rule consideration

The National Retail Federation told the Department of Labor on Sept. 25 that the Obama administration set the threshold for exemption from overtime too high in regulations struck down by a federal judge this summer and that any new level adopted under President Trump should be lower and account for regional and industry differences. “NRF strongly opposed the final rule’s attempt to raise employee wages by executive fiat and its significant increase in the regulatory…  » Read more

See what Halloween costume genres are projected to be the top sellers in 2017

With more people celebrating, Americans will splurge on costumes, candy and pumpkins for a record $9.1 billion in Halloween spending this year, according to the annual survey released Sept. 21 by the National Retail Federation and Prosper Insights & Analytics. The figure is up 8.3 percent from last year’s previous record of $8.4 billion.
 “Americans are planning to spend more than ever as they gear up for Halloween,” NRF President and CEO Matthew Shay said.…  » Read more

Retail federation urges lawmakers to lower corporate tax rate

The National Retail Federation told Congress that lawmakers need to lower the nation’s corporate tax rate in order to remain competitive in the global economy and to keep high taxes from hampering job creation. “The U.S. economy cannot thrive when we have the highest corporate tax rate in the industrialized world,” NRF Senior Vice President for Government Relations David French said. “Americans cannot sit by any longer and watch other nations continue to reduce corporate…  » Read more

SCOTUS needs to act now to enforce online sales tax, says NRF

The National Retail Federation said a ruling issued Sept. 14 by the South Dakota Supreme Court sets the stage for the U.S. Supreme Court to revisit a long-out-of-date ruling on ecommerce. But NRF called on Congress to quickly pass legislation allowing states to require online sellers to collect sales tax the same as local stores rather than continuing to leave the issue in the hands of the courts. “It’s time for Congress to pass a law that…  » Read more

NRF tempers retail sales forecast for rest of year

The National Retail Federation has adjusted its forecast for retail sales for 2017, saying sales are now expected to increase between 3.2 percent and 3.8 percent rather than the 3.7-4.2 percent forecast earlier this year. “Meaningful revisions to retail sales numbers by the Census Bureau and similar revisions to personal income and consumption by the Bureau of Economic Analysis have both affected our forecast and have required us to adjust our 2017 sales projection,” NRF Chief…  » Read more

Number of retail stores actually increasing, not decreasing

By Mark Mathews | National Retail Federation Click here to view a chart comparing net store openings and closings. As the “retail apocalypse” canard continues to grab the odd headline in the media, the data and the facts are consistently telling us quite a different story: a story of an industry in transition, but still growing. The most recent retail sales figures released by the Census Bureau were up a robust 4.2 percent year-on-year in…  » Read more

July sales numbers positive for retailers

Retail sales in July increased by 0.6 percent over June on a seasonally adjusted basis, triple the revised 0.2 percent growth seen in June, according to calculations released today by the National Retail Federation. Sales increased by 3.5 percent year-over-year, a continuation of the growth seen in June and long-term trends. The numbers exclude automobiles, gasoline stations and restaurants. “Consumer spending remains solid as retail sales saw healthy improvements in July and revised June numbers were…  » Read more

NRF survey shows where retailers are in chip card switch

A new survey conducted for NRF shows small retailers have nearly caught up with large merchants in making the switch to chip-and-signature credit cards — even though virtually half say the cards would be more secure if easy-to-forge signatures were replaced with a secret personal identification number. The survey found that 60 percent of small bricks-and-mortar retailers had installed chip card readers by this spring and another 10 percent expected to have done so by July, bringing…  » Read more

Hot 100 Retailers list shows ‘shifts in shopping behaviors’

Whether they sell through traditional stores, online or both, companies that provide unique offerings and experiences for consumers dominate the list of Hot 100 Retailers published by the National Retail Federation’s STORES magazine. “The retail industry is getting better at addressing shifts in shopping behaviors and thinking differently,” STORES Media Editor Susan Reda said. “What matters most to consumers is a retailer differentiating itself in the marketplace, being innovative with merchandise and offering the right value to the…  » Read more

Dockworkers union reaches agreement to avoid any supply disruptions

The National Retail Federation welcomed reports that the International Longshore and Warehouse Union and the Pacific Maritime Association appear close to extending their existing contract at West Coast ports nearly two full years before it is set to expire. “We applaud ILWU members for taking the unprecedented step of approving a contract extension well in advance of the contract expiration,” NRF Vice President for Supply Chain and Customs Policy Jonathan Gold said. “This agreement between…  » Read more

NRF chief economist makes retail predictions

As the chief economist for the largest retail trade organization in the world, Jack Kleinhenz’s days revolve around big data and economic forecasting models. With over 35 years of experience, Kleinhenz is well-versed in examining data patterns and trying to provide some perspective. “I’m a storyteller,” he said, and forecasting is “like a jigsaw puzzle.” Raw data is put into models and it’s Kleinhenz’s job to provide the narrative — a combination of art and science.…  » Read more

NRF continues efforts for 21st century tax reform

By David French | National Retail Federation As you know, the NRF has been fully engaged in a campaign to stop consideration of the border adjustment taxas part of comprehensive tax reform. On July 27, Republican leaders in the House, Senate and administration announced their intentions to continue to work on comprehensive tax reform without moving to a consumption tax system. Most importantly, in a joint statement the leaders recognized the concerns with a border adjustment tax and have decided to…  » Read more

Pence: ‘Congress needs to step up’ to help retailers

Vice President Mike Pence praised the retail industry’s contributions to the economy as he spoke before merchants from across the nation at NRF’s annual Retail Advocates Summit, and pledged to help pass pro-growth initiatives on issues from Obamacare repeal to tax reform. “I want to assure you that our president knows as retail goes, so goes America,” Pence told retailers in remarks carried live on CNN and MSNBC. “Our administration is focused on the issues that…  » Read more

NRF slams N.Y. Post article for playing into “retail is dying” narrative

The New York Post has a problem with the National Retail Federation’s optimistic back-to-school spending predictions, and the National Retail Federation has a problem with that. In an interview with Forbes’ Barbara Thau, NRF vice president of research said the Post’s article, titled “Retail group’s back-to-school projection doesn’t jive with recent numbers,” feeds into an inaccurate narrative of retail dying. The NRF report predicted back-to-school spending would increase by 10 percent from last year to more…  » Read more

Retail jobs exceed growth expectations during June

Retail industry employment turned a corner in June, gaining 7,400 jobs over May, the National Retail Federation reported. The retail numbers exclude automobile dealers, gasoline stations and restaurants. The economy overall saw gains of 222,000 jobs in June, far exceeding growth expectations for the month. “The gain in June shows that the industry is still very much meeting the demands of consumers and households,” NRF Chief Economist Jack Kleinhenz said. “While one month does not…  » Read more

Labor Department withdraws joint employer liability guidelines set under Obama

The National Retail Federation welcomed the announcement from the Labor Department that it would withdraw burdensome guidance issued under the Obama Administration significantly broadening the definition of a joint employer and creating seemingly limitless liability in business to business relationships. “Today’s announcement from the Labor Department is an important first step in reversing one of the most onerous regulations imposed by the previous administration on businesses,” NRF President and CEO Matthew Shay said. “Drastically expanding…  » Read more

Cutting-edge loss prevention technology, strategies on display at NRF Protect convention

At the National Retail Federation (NRF) Protect loss prevention conference this week, industry leader Toshiba will share its vision of driving growth for retailers and restaurants through three key areas: video surveillance innovations, cloud-based system management, and new strategies for point-of-purchase security. Taking center stage at the trade show will be the Toshiba Percept™ family of network video recorders that allow retailers to record, view and analyze video surveillance locally while leveraging the company's innovative cloud…  » Read more

Hooray for Dads: Father’s Day spending to break record

Americans are expected to spend more than ever on gifts for Father’s Day this year with the biggest share going to special outings like a ballgame, concert or dinner, according to the National Retail Federation’s annual survey conducted by Prosper Insight & Analytics. Father’s Day shoppers are expected to spend an average $134.75 for the holiday, up from last year’s $125.92. With 77 percent of consumers surveyed celebrating, total spending is expected to reach $15.5…  » Read more

Retail jobs down in May, although total earnings remain steady

Retail industry employment decreased by 8,500 jobs in May from April, the National Retail Federation reported June 2, while average hourly earnings were up 2.5 percent on a year-over-year basis, in line with growth in recent months. The numbers exclude automobile dealers, gasoline stations and restaurants. The overall economy gained 138,000 jobs in May, the Labor Department said. “Though job growth in the retail industry decelerated in May, employment overall is above what is needed…  » Read more

House Republicans abandon plans to repeal swipe fee reform

The National Retail Federation welcomed reports that House Republican leaders plan to abandon an attempt to repeal debit card swipe fee reform that has saved retailers and their customers more than $40 billion and brought badly needed competition to the payments market. “This is a major victory for the consumers who have saved billions of dollars under swipe fee reform and for the communities where retailers have used swipe savings to improve customer service, create jobs and…  » Read more

NRF: Tax reform could set retailers back for years

The National Retail Federation is urging Congress to focus on updating the existing federal income tax system through comprehensive reform rather than moving toward a consumption tax. Under either approach, Congress should reject a proposed $1 trillion border adjustment tax that would drive up prices for consumers and cost the economy jobs, NRF said. “The most important aspect of any tax reform measure is its impact on the economy, jobs and the consumer,” NRF Senior Vice President…  » Read more

3 retailers excelling at the in-store experience

Despite the meteoric rise of digital retail in recent years, most retail sales come from physical stores, and bricks-and-mortar remains a priority for retailers. But how do you create an in-person shopping experience that keeps customers coming back in an age where digital convenience and fun are constantly evolving? Ahead of Retail’s BIG Show 2017, executives at apparel retailer Gap, grocery and foodservice retailer Smart & Final and Kellogg’s NYC cereal café offered their insights on bricks-and-mortar…  » Read more

Graduation spending expected to reach all-time high

Consumers say they will spend more than ever on graduation gifts this year as they stuff greeting cards with gift cards and cash, according to the annual survey released today by the National Retail Federation and Prosper Insights & Analytics. With more consumers buying for graduates this year – 36 percent compared with 34 percent in 2016 – total spending is expected to reach $5.6 billion. That’s the highest number in the survey’s 11-year history,…  » Read more

Debit card reform vote coming; National Retail Federation ups fight against it

From the National Retail Federation: With the House set to take action in less than two weeks on legislation that would repeal debit card swipe fee reform, retailers small and large say reform has brought huge benefits to their businesses and customers, and has also brought much-needed competition to the payments market. Speaking with NRF this week, family-owned retailers, mid-sized merchants and well-known national brands all said swipe fee reform needs to be preserved. The concern…  » Read more

Retail sector sees employment spike

Retail industry employment increased by 2,500 jobs in April from March, the National Retail Federation said.. The numbers exclude automobile dealers, gasoline stations and restaurants. The overall economy gained 211,000 jobs in April, the Labor Department said. “This rebound in April employment mitigates the weakness in recent months,” NRF Chief Economist Jack Kleinhenz said. “It’s important to remember that job growth and other key economic indicators for any single month or short period can be…  » Read more

NRF says debit card reform would further line banks’ pockets

The National Retail Federation on May 2 called on the House Financial Services Committee to reject efforts to repeal debit card swipe fee reform as it considers approval of the Financial Choice Act. “Debit card swipe fee reform has brought competition and transparency to the debit card payments market,” NRF Senior Vice President for Government Relations David French said. “Repealing reform would only undermine transparency and competition, further lining banks’ pockets.” “Swipe fees are a major concern,…  » Read more

Congress responding to retailers’ online sales tax pressure

The National Retail Federation welcomed renewed efforts in Congress to require online sellers to collect sales tax the same as local stores. “With more states passing sales tax laws or going to court, pressure is building on Congress to finally address this issue,” NRF Senior Vice President for Government Affairs David French said. “The states know they can’t fix this on their own, but they agree with retailers that Congress has stalled for far too long.…  » Read more

Retailers plead with congress: Don’t repeal debit card reform

The National Retail Federation and retailers from across the country went to Capitol Hill as Congress held a hearing on legislation that would repeal debit card swipe fee reform, telling lawmakers that reform has saved merchants and consumers more than $40 billion and should be protected. “Debit card reform has been a remarkable success,” NRF Senior Vice President and General Counsel Mallory Duncan said. “It has saved retailers and their customers billions of dollars and it…  » Read more

Mother’s Day retail spending to be sky-high in 2017

Consumers say they will spend more than ever on Mother’s Day this year as they shower moms with everything from jewelry to special outings at favorite restaurants, according to the National Retail Federation’s annual survey conducted by Prosper Insights & Analytics. Mother’s Day shoppers are expected to spend an average of $186.39 for the holiday, up from last year’s $172.22. With 85 percent of consumers surveyed celebrating the holiday, total spending is expected to reach…  » Read more

March retail sales see spike from last year

Retail sales in March increased 0.3 percent seasonally adjusted over February and 3.5 percent unadjusted year-over-year, according to calculations released today by the National Retail Federation. The numbers exclude automobiles, gasoline stations and restaurants. “Various factors were at play in the first quarter, but we are again seeing a pattern similar to previous years — consumer spending was weak but is expected to pick up as we move through the year,” NRF Chief Economist Jack Kleinhenz said.…  » Read more

National Retail Federation ups campaign to fight controversial tax proposal

From the National Retail Federation: House Republicans in Congress have proposed a “border adjustment tax” on all imported goods — from clothing to computers, gasoline to groceries and toys to tires. The BAT would be a new, additional tax that would drive up the prices of countless products Americans use every day. This destructive new tax is a job-killing formula that would be bad for retailers and consumers alike. NRF launched an intensive campaign against…  » Read more

Retailers welcome court-issued hold on new overtime rules

The National Retail Federation welcomed a judge’s Nov. 23 ruling that will prevent the Labor Department’s changes to federal overtime rules from taking effect as scheduled on Dec. 1. U.S. District Judge Amos Mazzant issued a preliminary injunction in a lawsuit brought by NRF, attorneys general from 21 states and dozens of business groups arguing that the changes are unlawful. The ruling effectively pauses implementation of the rules until the courts reach a final decision on their legality. “The Labor Department’s overtime…  » Read more

National Retail Federation predicts ‘solid’ holiday buying season

The National Retail Federation announced Oct. 4 it expects sales in November and December, excluding autos, gas and restaurant sales, to increase a solid 3.6 percent to $655.8 billion — significantly higher than the 10-year average of 2.5 percent and above the seven-year average of 3.4 percent since recovery began in 2009. Additionally, NRF is forecasting non-store sales to increase between 7 and 10 percent to as much as $117 billion. “All of the fundamentals are in a good place, giving strength to consumers and leading us…  » Read more