Sponsors
Billabong ▼ -0.005 | PPR ▼ -1.05 | American Apparel ▲ +0.110 | The Buckle ▲ +1.76 | Columbia ▲ +1.79 | Deckers Outdoor ▲ +1.45 | Dicks ▲ +0.88 | Foot Locker ▲ +0.55 | Genesco ▲ +2.83 | Iconix Brand Group ▲ +0.21 | Jarden Corp ▲ +0.66 | Nordstrom ▲ +0.93 | Luxottica ▲ +0.25 | Nike ▲ +1.29 | Pacific Sunwear ▼ 0.00 | Skullcandy ▲ +0.17 | Sport Chalet - 0 | Urban Outfitters ▲ +0.69 | VF Corp ▲ +1.82 | Quiksilver ▲ +0.13 | Zumiez ▲ +1.56 | Macys ▲ +0.75 | Tillys ▲ +0.11 |
Ticker Sponsor
Readers Say
Keeps me in the loop
Keeps me in the loop

Being an Executive Edition member allows me to not miss a beat when it comes to the Industry business news. Definitely keeps me in the loop plus goes great with my morning joe.

- By Tony Perez, Surfer and Surfing magazines
I waited too long to sign up for Executive Edition
I waited too long to sign up for Executive Edition

I read Shop-Eat-Surf at every opportunity, and I waited too long to sign up for the Executive Edition. It’s timely, relevant and clearly “from the industry, for the industry.

- By Andy Laats, President, Nixon
Industry Insight

AGENDA: GroupY's Emerge brand-building conference returns on Jan. 6.
SURFRIDER: "Protect What You Love" holiday appeal.
MOSS ADAMS: Plan now for tax season.
Details on Industry Insight.


Tiffany Montgomery
Print This Article

NRF upgrades holiday forecast

By Press Releases
December 15, 2011 6:54 AM

Press Release:

 

National Retail Federation Upgrades Holiday Forecast, Expects Sales to Rise 3.8 Percent to $469.1 Billion


-Strong November Sales, Expected December Spending Lead to Revision-

 

Washington, December 15, 2011 – With just ten days until Christmas, the National Retail Federation has revised its holiday forecast upward, expecting holiday sales to rise 3.8 percent this year to a record $469.1 billion. NRF’s initial forecast, announced on October 6, called for anticipated sales growth of 2.8 percent. While a 3.8 percent sales increase is considerably above the ten-year average sales increase of 2.6 percent, it is still lower than the 5.2 percent increase the retail industry saw last year.

 

“After strong sales reports in October and November, along with a successful Black Friday weekend, retailers are cautiously optimistic that this season will turn out better than initially expected, bringing added stability to our recovering economy at a time when America needs it most,” NRF President and CEO Matthew Shay said. “However, a number of factors, including the debt crisis in Europe and continued political wrangling in Washington, could impact consumer spending this holiday season and into 2012.”

 

The forecast revision comes on the heels of two promising pieces of news. On Tuesday, NRF announced that retail industry sales for November rose 4.5 percent year-over-year. In addition, NRF’s most recent holiday survey found that the average American has completed far less of their holiday shopping than in previous years – an indication that many shoppers bought for themselves in November and have plenty of holiday shopping left to do.

 

“Consumer spending this holiday season has surpassed expectations, though many shoppers continue to stick to their budgets and buy only what they need,” said NRF Chief Economist Jack Kleinhenz. “Despite modest job and income growth, consumers have continuously proven they have the capacity to spend and we are encouraged by this and the recent sales growth we have seen so far this year.”

 

As the world’s largest retail trade association and the voice of retail worldwide, NRF represents retailers of all types and sizes, including chain restaurants and industry partners, from the United States and more than 45 countries abroad. Retailers operate more than 3.6 million U.S. establishments that support one in four U.S. jobs – 42 million working Americans. Contributing $2.5 trillion to annual GDP, retail is a daily barometer for the nation’s economy. NRF’s Retail Means Jobs campaign emphasizes the economic importance of retail and encourages policymakers to support a Jobs, Innovation and Consumer Value Agenda aimed at boosting economic growth and job creation. www.nrf.com.

 

 

 

 


Articles You Might Have Missed