Tag: nrf

Retail sales grew again in October as consumers set aside concerns about inflation and many got a jump start on the holiday season.

The National Retail Federation forecasts that holiday retail sales during November and December will grow between 6 and 8 percent over 2021 to between $942.6 billion and $960.4 billion.

The National Retail Federation today announced that it has hired veteran loss prevention expert David Johnston as vice president for asset protection and retail operations. 

This rise in crime has caught the attention of policymakers in Washington and they are considering legislation to help. Ahead of Fight Retail Crime Day on Oct. 26, the NRF is asking congress to act—and, in turn, asking retailers to plead with congress as well.

Retail sales remained strong on a monthly basis and saw another year-over-year gain in September despite an interest rate hike from the Federal Reserve and continuing inflation.

Consumers remain worried about high inflation and Federal Reserve interest rate hikes intended to bring inflation under control, but neither has stopped them from spending.

Consumers' willingness to spend overcame inflation again in August as more jobs and higher wages helped ease some of the pressure of continuing high prices.

Retail shrink, when taken as a percentage of total retail sales in 2021, accounted for $94.5 billion in losses last year, up from $90.8 billion in 2020, according to the 2022 National Retail Security Survey.

Core retail sales rose in July even as overall sales reported by the Census Bureau remained flat on a monthly basis, and both calculations showed strong year-over-year gains.

Despite two consecutive quarters of decline, the US economy still does not appear to be in a recession and remains unlikely to enter one this year.