WASHINGTON—The National Retail Federation issued the following statement from Executive Vice President of Government Relations David French after the Department of Labor (DOL) released its final overtime rule. Originally proposed in September 2023, the rule will increase—in two steps—the minimum annual salary threshold that determines overtime pay eligibility under the Fair Labor Standards Act. “NRF
WASHINGTON – Data released by the U.S. Census Bureau on Monday shows that retail sales continued to increase in March as tax refunds and job growth put more money in shoppers’ pockets, National Retail Federation Chief Economist Jack Kleinhenz said. “March’s Census Bureau numbers confirm that consumer spending remains steady, underscoring a resilient consumer despite
WASHINGTON – The retail industry remains a major employer, according to a new report released by the National Retail Federation on Monday, which found that retailers supported 55 million full-time and part-time jobs in 2022, accounting for 26% of total U.S. employment. The figures are up from 52 million jobs and 25% of total U.S.
WASHINGTON — More than 200 million consumers were in stores or shopping online between Thanksgiving Day and Cyber Monday, according to the National Retail Federation (NRF), citing the record turnout in reiterating its forecast of spending growth in the range of 3% to 4% over the final two months of the year. “We had a
WASHINGTON – After a year of challenges, the economy has proven to be healthy even as it continues to slow, National Retail Federation Chief Economist Jack Kleinhenz said today. “The U.S. economy is on track to end 2023 with vigorous growth for the year,” Kleinhenz said. “A strong labor market, rising wages and access to
WASHINGTON — Consumers are expected to spend record sums this year on back-to-school and back-to-college shopping, according to the annual survey from the National Retail Federation (NRF) and Prosper Insights & Analytics. BTS spending is expected to reach $41.5 billion, up from $36.9 billion last year and the previous high of $37.1 billion in 2021.
GRAPEVINE, Texas — Shoplifting and other retail crime has become a topic of concern for consumers as well as retailers themselves, according to a recent survey conducted for the National Retail Federation (NRF). More than half (53%) of consumers believe retail crimes such as shoplifting and looting stores have increased in their community since the
WASHINGTON – Retail sales rose again in May as consumers continued to spend despite economic challenges, the National Retail Federation said on Thursday. “Consumers continued to spend on household priorities in May, supported by gains in the job market and wages,” NRF President and CEO Matthew Shay said. “Retailers recognize the ongoing pressure on cost-sensitive
WASHINGTON – More than half (55%) of consumers believe retail crimes such as shoplifting and looting stores have increased in their community since the onset of the pandemic, according to a survey released Thursday by the National Retail Federation. The survey, in which NRF asked consumers a series of questions relating to crime, retail theft and
WASHINGTON — The National Retail Federation on Tuesday announced the recipients of its 2023 NRF PROTECT Awards, which the trade group calls the highest loss prevention and asset protection recognitions in the retail industry. Six veteran loss prevention professionals will be honored on June 6 during the annual NRF PROTECT conference in Grapevine, Texas. “The
WASHINGTON — The National Retail Federation (NRF) expects retail sales growth to slow this year as the pandemic-fueled spending boom fades and inflation forces shoppers to tighten their belts. In its annual forecast, NRF foresees retail sales of between $5.13 trillion and $5.23 trillion on growth of between 4% and 6% from 2022 levels. “While
WASHINGTON – Organized retail crime (ORC) is a big problem for the U.S. retail industry, and a new report by the National Retail Federation suggests it is getting worse. “Organized retail crime has been a major concern for the retail industry for decades, endangering store employees and customers, disrupting store operations and inflicting billions in