Retailers are speaking up about the contributions they make to the nation’s economy, in the hope that their needs will be taken into account when lawmakers rewrite the tax code. Earlier this month the Food Marketing Institute (FMI) released its “Grocery Industry Economic Impact” analysis, which quantifies the food retail industry’s annual economic impact. FMI’s
WASHINGTON — The National Retail Federation on Tuesday forecast that holiday retail sales in November and December will increase between 3.6% and 4% over last year, to total $678.75 billion. “Our forecast reflects the very realistic steady momentum of the economy and overall strength of the industry,” NRF president and CEO Matthew Shay said. “Although this
WASHINGTON — Whether they sell through brick-and-mortar stores, online or both, companies that provide unique offerings and experiences for consumers dominate the Hot 100 Retailers released by the National Retail Federation. The list of fastest-growing retailers, compiled by research firm Kantar Retail, is based on sales growth in 2016 and ranks both public and privately
WASHINGTON — Retailers applauded congressional Republicans’ move to give up their pursuit of the border adjustment tax (BAT). Prior to GOP leaders’ announcement of the decision on Thursday, retailers that receive many of the goods they sell from overseas had expressed concerns about the BAT, claiming it would pass hefty costs on to consumers. The
WASHINGTON — Vice President Mike Pence told retailers at a National Retail Federation event Tuesday that the White House recognizes the industry’s importance to the nation’s economy. “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
WASHINGTON — U.S. retailers collectively sustained a $48.9 billion hit from theft and other inventory shrinkage in 2016, according to the annual National Retail Security Survey. That’s an 8% increase from a year earlier and came as budget constraints prompted some retailers to cut spending on security, according to the survey, released last month by
WASHINGTON – Retail employment turned a corner in June, gaining 7,400 jobs over May, the National Retail Federation said Friday. The association noted that its retail industry job figures exclude jobs at automobile dealers, gasoline stations and restaurants. The overall U.S. economy added 222,000 jobs in June. “The gain in June shows that the industry
WASHINGTON – Retail sales rose a seasonally adjusted 0.3% in March from the previous month and were up 3.5% unadjusted from a year earlier, the National Retail Federation (NRF) reported on Friday. The federation’s numbers exclude automobiles, gasoline stations and restaurants. “Consumer spending was weak but is expected to pick up as we move through
WASHINGTON – The National Retail Federation has launched the second phase of its television and digital ad campaign against House Republicans’ proposed border adjustment tax, building on the success of satirical “As Seen on TV” ads that described the BAT as an “everything tax” for American consumers. In the new campaign, three small retailers –
WASHINGTON — U.S. retail sales rose a seasonally adjusted 0.2% in February compared with the month before, the National Retail Federation said earlier this month. NRF also calculated that February’s sales were up 0.8% on an unadjusted basis from a year earlier. The numbers exclude automobiles, gasoline stations and restaurants. “Sales growth held up well,
WASHINGTON — The National Retail Federation and the Object Management Group (OMG) announced earlier this month that they had formed a partnership to manage some activities performed by the Association for Retail Technology Standards (ARTS) division of NRF. “This arrangement will allow NRF to focus on ARTS’ core mission of collaboration, education and research while
WASHINGTON — The National Retail Federation (NRF) said it was disappointed that the House failed to vote on the Obamacare repeal-and-replace law on Friday. “This bill doesn’t do everything that should be done, but real reform could have been achieved today,” NRF vice president for health care policy Neil Trautwein said in a statement. “By