PLMA October Leaderboard

Inflation

Survey: holiday shopping a priority, despite inflation

Survey: holiday shopping a priority, despite inflation

WASHINGTON — As high rates of inflation persist, consumers across income levels are feeling the pain of higher prices on everything from household essentials to services like travel and dining out. Despite challenges, consumers are still prioritizing holiday spending. An NRF September 2022 consumer survey found that: Households earning over $75,000 a year are twice as likely

Taming the Inflationary Tiger

Taming the Inflationary Tiger

I saw a report from Bloomberg a little while ago that the Federal Reserve has a new plan to end high inflation — through a “growth recession” strategy. Worrisome, huh? The economist who first thought up “growth recession” likened it to a contained tiger – not a tiger running loose, but not a paper tiger

Strong B-T-S spending seen, despite inflation concerns

Strong B-T-S spending seen, despite inflation concerns

CHICAGO – Back-to-school spending this season will reach an all-time high, according to an online consumer survey from JLL Retail Research. JLL conducted the survey of 1,001 parents of school-age children in mid-June to learn how they intend to shop for the back-to-school season, how inflation is affecting purchase plans, which retailers they plan to

Higher prices help drive sales gains in June

Higher prices help drive sales gains in June

PURCHASE, N.Y. — Higher prices, particularly for such necessities as food and fuel, helped drive a 9.5% year-over-year retail sales increase in June. That figure is courtesy of  Mastercard SpendingPulse, which measures in-store and online retail sales across all forms of payment, and excludes automotive sales. When spending on gasoline is also excluded, retail sales

Rising prices hurt retail sales in May

Rising prices hurt retail sales in May

WASHINGTON – Retail sales slowed in May as consumers faced continuing inflation and higher prices for essentials like food and gasoline, the National Retail Federation said Wednesday. “Retail sales are reflecting Americans’ growing concern about inflation and its impact on the cost of everything from groceries to gas,” NRF president and CEO Matthew Shay said.

Retailers urge tariff cuts to fight inflation

Retailers urge tariff cuts to fight inflation

WASHINGTON – The National Retail Federation urging the Biden administration to repeal tariffs on goods from China as a way to fight inflation, the trade group said Wednesday. To get that message out, the NRF said it is launching the second phase of a seven-figure advocacy campaign with broadcast, digital and out-of-home advertising, including a

NRF: ‘Extreme cooling off’ of economy is unlikely

NRF: ‘Extreme cooling off’ of economy is unlikely

WASHINGTON — A major economic setback seems unlikely despite the “tricky job” the Federal Reserve faces in getting inflation under control, National Retail Federation chief economist Jack Kleinhenz said Wednesday. “With changes underway that focus on taming inflation without splintering the economy, the nation’s economic system is in the process of being rebalanced in ways

Target earnings hit by higher costs

Target earnings hit by higher costs

MINNEAPOLIS – Target Corp. today said sales increased in its first quarter but higher costs impinged on profits. Comparable sales increased 3.3% in the quarter, reflecting traffic growth of 3.9%, the company said. Store comps were up 3.4% while digital comps increased 3.2%. Sales growth was led by frequently purchased categories, including food and beverage,

Retail sales rise 0.9% in April

Retail sales rise 0.9% in April

WASHINGTON – April retail sales rose 0.9% from the previous month to $677.7 billion, the Commerce Department reported today. It was the fourth consecutive monthly increase in the face of rising consumer prices. April’s increase followed the 0.5% gain in March sales, when Russia’s military invasion of Ukraine caused gasoline prices to surge. Pump prices