Consumers need more proof that the economy is slowly turning around as April retail sales show people continuing to cut back on their discretionary spending. According to the National Retail Federation, retail industry sales for April (which exclude automobiles, gas stations, and restaurants) decreased 0.4 percent seasonally adjusted from March and dropped 1.7 percent unadjusted over last year.
Import cargo volume at the nation’s major retail container ports hit its lowest level in seven years in February as the number of containers dropped below the 1 million mark for the first time in half a decade, according to the monthly Port Tracker report released today by the National Retail Federation and IHS Global Insight. Numbers began climbing again in March and April, but the 1 million mark won’t be seen again before May, and imports will continue to see significant declines compared with last year at least through the summer.
When it comes to providing great customer service, L.L.Bean has once again been hailed as the cream of the crop. According to the fourth annual NRF Foundation/American Express Customers’ Choice survey, conducted by BIGresearch, shoppers revealed that L.L.Bean delivers the best customer service in all retail formats. Results were announced today during the Annual Retail Industry Luncheon during the National Retail Federation’s 98th Annual Convention and EXPO in New York City. The top 10 winners of the survey were honored at the luncheon.
With economic pressures hindering consumer spending, retail sales continued to lag in advance of the holiday season.
The National Retail Federation today released its forecast for the upcoming 2008 holiday season, projecting that sales will rise 2.2 percent this year to $470.4 billion.
Though September sales gains were moderate, they were better than expected, giving retailers a welcome surprise as they head into the ever-important holiday season. According to the National Retail Federation, retail industry sales for September (which exclude automobiles, gas stations, and restaurants) rose 2.2 percent unadjusted over last year and 0.2 percent seasonally adjusted from August.