NRF boosts holiday forecast

WASHINGTON — The National Retail Federation is putting its faith in the holidays by upgrading its spending forecast for the season.

After initially anticipating sales growth of 2.8%, the NRF said it now expects holiday sales to rise 3.8% to $469.1 billion. The projection may be lower than the 5.2% increase the retail industry saw last year, but the group said a number of factors, such as strong year-over-year sales and the fact that not all consumers have completed their holiday shopping lists, could provide the industry with a great gift after all.

“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.”



Recommended stories

Login or Register to post a comment.