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Home Depot is among many retailers hit by a global shipping crisis that has led to delays and rising prices. Experts say holiday season shopping may be disrupted by limited stock and higher prices. Home Depot, hoping to sidestep a global shipping crisis, has contracted its own ship to transport its goods. The home-improvement store is one of many retailers grappling with shipping delays and rising costs caused by supply-chain problems. For retailers, this means a risk of low stock, especially as we approach the holiday season.
Persons: Ted Decker, It's, we've, Jonathan Gold, Mills Organizations: US ., of Commerce, CNBC, National Retail Federation, Procter, Gamble
Yet with congested ports, container shortages and Covid-19 outbreaks slowing shipments, the company made a decision: It was time to get its own boat. The global shipping snafus come during an important time for the industry, said Jonathan Gold, vice president of supply chain and customs policy for the National Retail Federation, a trade group. Retailers are heading into peak season for shipping holiday merchandise, which usually begins in August. "Right now, they are all trying to figure out 'How do we mitigate that risk to make sure that we've got the product here in time for when those holiday season sales start?'" "That could mean moving up timing for when you bring your product in, which could further lead to additional congestion and delays."
Persons: Ted Decker, Decker, Jonathan Gold, we've Organizations: National Retail Federation
REUTERS/Brendan McDermid/File PhotoBack-to-school sales at U.S. department stores are expected to jump about 25% from last year, as parents splurge on apparel, supplies and electronics for the new academic year when many kids return to classrooms, an industry report showed on Thursday. Sales at department stores this back-to-school season, which runs mid-July through early-September, are forecast to surge 25.3% from a year earlier, and 9.5% over 2019, according to Mastercard Inc SpendingPulse data. Total retail sales, excluding auto and gas, are projected to rise 5.5%. The pandemic pushed department stores, such as Macy's (M.N) and Kohl's (KSS.N), to sell largely online and streamline their businesses at a time they were already facing intense competition and a shift in consumer preference. On Wednesday, The National Retail Federation raised its growth forecast for 2021 U.S. retail sales as the economy reopens faster than predicted.
Persons: Brendan McDermid, Mastercard Steve Sadove Organizations: REUTERS, U.S, Mastercard Inc, Mastercard, Apparel, Electronics, National Retail Federation, Thomson Locations: New York, P.S, Brooklyn , New York, U.S
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailFull interview with former Macy's CEO Terry Lundgren on retail sector outlookThe National Retail Federation has upgraded its 2021 forecast for the industry, saying it will see its fastest growth since 1984. Terry Lundgren, founder and CEO of TJL Advisors and former CEO of Macy's, joined "Squawk Box" on Thursday to discuss the outlook for the retail industry.
Persons: Terry Lundgren Organizations: National Retail Federation, TJL Advisors, Macy's
FILE PHOTO: People shop for clothes at a Target retail chain in Westbury, New York, U.S., May 20, 2021. REUTERS/Shannon Stapleton(Reuters) - The National Retail Federation (NRF) on Wednesday raised its growth expectations for U.S. retail sales in 2021 to between 10.5% and 13.5%, as more Americans get inoculated and the economy reopens at a more accelerated pace than previously predicted. The trade group now expects annual U.S. retail sales of between $4.44 trillion and $4.56 trillion, from its previous estimates, issued in February, of between 6.5% and 8.2%, or more than $4.33 trillion. “We are seeing clear signs of a strong and resilient economy,” NRF Chief Economist Jack Kleinhenz said. The U.S. retail group also forecast GDP growth to approach 7% in 2021, higher than the 4.4% and 5% projected earlier this year.
Persons: Shannon Stapleton, Jack Kleinhenz, ” Kleinhenz Organizations: REUTERS, Reuters, National Retail Federation Locations: Westbury , New York, U.S
U.S. Retail Sales Forecast Rises Sharply as Covid-19 Restrictions Ease
  + stars: | 2021-06-09 | by ( Sarah Nassauer | ) www.wsj.com sentiment -0.90   time to read: +1 min
The National Retail Federation said Wednesday it expects retail sales to jump between 10.5% and 13.5% to more than $4.44 trillion this year compared with last. That is nearly double the forecast the trade group gave in February, when it predicted between 6.5% to 8.2% growth in U.S. retail spending. The NRF forecast includes purchases made both online and in stores. Last year, the NRF estimated that total retail sales hit around $4.02 trillion, with $920 billion from purchases made through online channels. Non-store and online sales are expected to increase between 18% and 23% to a range of $1.09 trillion to $1.13 trillion this year.
Persons: , Matthew Shay Organizations: National Retail Federation
One of the country's largest retail trade groups, the National Retail Federation, boosted the industry's outlook for the year on Wednesday, saying it anticipates "the fastest growth that we've seen in this country since 1984." That compares with $4.02 trillion in total retail sales in 2020. The industry group had forecast in February that retail sales would rise between 6.5% and 8.2%, amounting to more than $4.33 trillion in sales for the year. U.S. retail sales stalled in April, after soaring by 10.7% in March, according to the Commerce Department. Retail sales in May have not yet been announced.
Persons: Jack Kleinhenz, NRF, Kleinhenz, Jeff Gennette Organizations: National Retail Federation, Commerce Department, Retail, Walmart, Company
National Retail Federation CEO Matthew Shay on retail sales forecast
  + stars: | 2021-06-09 | by ( ) www.cnbc.com + 0.67   time to read: 1 min
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailNational Retail Federation CEO Matthew Shay on retail sales forecastNational Retail Federation CEO Matthew Shay joins ‘Closing Bell’ to discuss his retail sales forecast for the rest of 2021, as the vaccine rollout has been effective at spurring the economy. He also talks about inflation.
Persons: Matthew Shay, Bell Organizations: National Retail Federation, Retail Federation
Retailers, newspapers, printing firms oppose U.S. postal rate hikes
  + stars: | 2021-06-04 | by ( David Shepardson | ) www.reuters.com sentiment -1.00   time to read: +2 min
A United States Postal Service (USPS) mail carrier pushes his cart while delivering mail in the rain on Manhattan's Upper West Side during the outbreak of the coronavirus disease (COVID-19) in New York City, New York, U.S., April 13, 2020. REUTERS/Mike Segar/File PhotoA coalition of retailers, newspapers, printers, greeting card companies and others oppose the U.S. Postal Service plan to hike postage prices for most mail by 7% and called on Congress to direct a new review before the hikes take effect. The group includes the National Retail Federation, Amazon.com Inc, eBay, the National Newspaper Association, Envelope Manufacturers Association, Greeting Card Association and the American Forest & Paper Association. The group noted USPS wants to generate an additional $35-to-$52 billion from mail over 10 years.
Persons: Mike Segar, Pitney Bowes, Donnelly Organizations: United States Postal Service, REUTERS, U.S . Postal Service, National Retail Federation, Amazon.com Inc, eBay, National Newspaper Association, Envelope Manufacturers, Card, American, & Paper Association, Coalition, Century Postal Service, USPS, News Media Association, Pitney, Major Mailers Association and Bank of America, Thomson Locations: New York City , New York, U.S, PBI.N
What's pushing growth in proximity mobile payment usage?
  + stars: | 2021-06-03 | by ( Jaime Toplin | ) www.businessinsider.com + 0.00   time to read: +4 min
Mobile proximity and peer-to-peer (P2P) payments have hit the mainstream, thanks to a pandemic-driven upswing in digital payments. We present our eMarketer forecasts for growth in the mobile proximity and mobile P2P payments space, as well as assess top players in each area. These were aimed at narrowing the gap between proximity payments, P2P, and mcommerce providers as wallet companies aimed to meet all mobile payment needs. Proximity Mobile Payment UsersAfter a 2020 surge, mobile proximity payment user growth rates will temper slightly before winding down to a 4.0% rise in 2025 as the sector matures, due to expansions in access and generational growth. The pandemic effect on proximity mobile paymentsPre-pandemic, a fifth of US adults who hadn't yet adopted mobile proximity payment technology expressed an interest in doing so, according to a 2020 Total System Services report.
Persons: Forrester, Zers, Gen Z Organizations: Intelligence, Services, National Retail Federation, PayPal
Home renovationsAnyone that's considering a bathroom remodel or kitchen renovation will see dramatically higher prices for raw materials. A broad mix of residential construction materials is up 12.4% over the previous 12 months, according to the producer price index. "I think people are recognizing that we should wait a little bit until things get back to a better situation." Domestic airfares are up 9% since April 1 while international fares are up 17%, according to recent research from Bernstein. Hotel rates are also higher and have even surpassed pre-pandemic prices in some popular destinations, according to travel booking technology company Koddi.
Persons: Jack Kleinhenz, Bernstein, Hamrick, Kelley, Jessica Caldwell, Edmunds, Anand Talwar Organizations: National Association of Home Builders, National Retail Federation, Ally Bank Locations: Edmunds
The beleaguered retail sector found itself thrust onto the front lines of the politicized fight over mask-wearing with the agency’s new guidance issued Thursday. Phil Lempert, founder of SupermarketGuru.com, predicted that grocery stores won’t do away with mask requirements, at least for workers. “Retailers are going to mandate or bribe with bonuses or added pay that employees continue to wear masks,” he said. “Workers are still forced to play mask police,” the statement said. Perhaps wary of having workers caught in the middle, many big retail chains said they had no plans to waive in-store mask mandates immediately.
Persons: Phil Lempert, SupermarketGuru.com, , , ” Lisa LaBruno, Matthew Shay, Nick Shields, Shields, “ It’s, Brian Harper, Tibaldo, Sheila Regehr, Maria Brous, ” Lempert Organizations: Disease Control, “ Retailers, United Food, Commercial Workers International, “ Workers, CDC, Retail Industry, Association, National Retail Federation, Kroger Co Locations: United
A shopper and cashier both wear masks, gloves and the cashier also has on a plastic visor at the checkout station Pat's Farms grocery store on March 31, 2020 in Merrick, New York. The CDC issued updated guidance on Thursday, saying that fully vaccinated people don't need to wear a mask or stay six feet apart in most settings. Lisa LaBruno, RILA's senior executive vice president of retail operations and innovation, encouraged people to continue to follow private businesses' rules. "We urge all retail customers and guests to follow a store's safety protocols including wearing a mask and social distancing," she said. Retailers encourage customers that do not want to wear a mask to shop online or via curbside pickup offerings."
Persons: Joel Bines, Ulta, Joe's, Lisa LaBruno, Larry Lynch, Lynch, AlixPartners, it's, Marc Perrone, CNBC's Amelia Lucas, Sarah Whitten, Nadine El, Bawab Organizations: Shoppers, Centers for Disease Control, CDC, Target, Starbucks, Kroger, National Retail Federation, Retail Industry, Association, National Restaurant Association, Hershey, United Food, Commercial Workers Locations: Merrick , New York
The CDC now says fully vaccinated people no longer need to wear a face mask or stay 6 feet away from others in most settings, whether outdoors or indoors, according to the updated guidance. On one hand, the CDC guidance could bring more clarity, but it also makes things more complex since businesses won't know who is or is not vaccinated – and neither will customers. Law professor Lawrence Gostin, director of the World Health Organization's Collaborating Center on National and Global Health Law, said the new guidance could have "serious unforeseen consequences." Roughly 118 million Americans are fully vaccinated, according to the agency. The company said Friday fully vaccinated guests and employees won't have to wear masks at its hotels and casinos.
Persons: Brendan McDermid, anybody's, Bob Chapek, we've, Rochelle Walensky, Dr, Chin, haven't, Marc Perrone, Lisa LaBruno, David French, Joel Bines, Lawrence Gostin, Gostin, they've, Dorit Reiss Organizations: New York University, The New, Reuters Disney, Centers for Disease Control, Prevention, CDC, Vaccine, University of California, CNBC, United Food, Commercial Workers Union, Retail Industry, Association, National Retail Federation, Health, National, Global Health Law, UC Hastings College of Law, YouTube, Gaming Control Board, Wynn Locations: Washington, New York City, Florida, U.S, San Francisco, States, Vegas
One in 10 employed consumers in the U.S. say that nothing would make them feel comfortable working in an environment around other people, according to a new survey. and then 'How do we get people who are working, but working in a remote location, back into the office?'" Chipotle Mexican Grill said Monday that it will raise restaurant workers' pay to an average of $15 an hour by the end of June. That will amount to a new minimum wage of $13.50 for store employees and $16.50 for store supervisors. The average wage across all store employees will be $15.50 for store team members and $18.50 for supervisors.
Persons: , Johns Hopkins University —, David French, Travis Sheetz, Sheetz Organizations: National Retail Federation, Prosper, Analytics, Centers for Disease Control, Johns Hopkins University, Deaths, Drug Administration, Pfizer, U.S . Chamber of Commerce, Grill Locations: U.S, Covid, Pennsylvania , Maryland, Virginia , Ohio, West Virginia, North Carolina
This Mother's Day, it's more likely to be breakfast in bed, not an opulent buffet. Even though consumers are expected to spend more on mom this year, celebrations will likely still take place at home despite rising vaccination rates. Many restaurants, mindful of the wariness, are offering Mother's Day brunch and dinner menus for pickup or prepped meals you can cook at home. The box includes homemade granola, a crunchy buttery toffee, sable cookies, English breakfast tea, a tea towel and a Mother's Day mug. "This is the highest expected Mother's Day spending we've seen since we started doing this survey over a decade ago," said Cullen.
Persons: it's, we're, Katherine Cullen, Cullen, Holly Najdzin, Chris McCann, It's, we've, McCann, Flowers, NRF's Cullen, Covid Organizations: National Retail Federation, Mother's Locations: Boston
Logistics companies are expecting another big year as e-commerce takes share of consumer spending. Retailers that hadn't mastered e-commerce logistics before the pandemic continue to fall behind. As consumer dollars continue to shift online, logistics players know there's money to be made. It's an unprecedented opportunity for freight and logistics players that can meet internet retailers' exacting standards. Companies like Instacart, Shipt, and Roadie have been working with retailers for years, but the new fees and the pandemic presented new opportunities.
Persons: It's, Craig Callahan, Evelyn Hockstein, Postmates, Shipt, Lyft, LaserShip, Ontrac, Brian Ach, JB Hunt, it's, Ryder, Robert Sanchez, Nati, Mark Yeager, haven't, Callahan, Richard Drew Losers, didn't Organizations: National Retail Federation, Werner Enterprises, Walmart, Dollar, FedEx, UPS, Companies, Washington, Getty, Service, Uber, USPS, Reuters, Courier, FedEx Freight, Logistics, Costco, XPO, ArcBest, XPO Logistics, Old Dominion Freight, Gartner, UPS Freight, Canadian, TFI, Railroads, BNSF, Union, Norfolk Southern Railroads, Redwood Logistics, Union Pacific, Norfolk Southern, CSX, Association of American Railroads, AP, Urban Outfitters, Airlines, American, American Airlines, Southwest Airlines, United Airlines Air Locations: West Coast, York City, Reno , Nevada, Union Pacific, East, Ross, Macy's, Delta
Marty Walsh, Mr. Biden’s secretary of labor, said on MSNBC this month that the administration was looking into the standard. But the threat to workers has hardly disappeared, particularly as new coronavirus variants continue to spread. In Michigan, which has experienced a surge in Covid infections, more than half of new reported Covid outbreaks have occurred in workplaces. Another reason the Biden administration may be hedging? “The essential workers getting sick are in occupations that are disproportionately made up of Black and brown workers,” said Deborah Berkowitz of the National Employment Law Project.
Persons: Biden, Trump’s, Marty Walsh, Biden’s, , David Michaels, Obama, Dr, Michaels, Deborah Berkowitz, Berkowitz, Covid Organizations: MSNBC, George Washington University Milken Institute School of Public Health, OSHA, Mr, National Retail Federation, National Employment Law Locations: Michigan, Oklahoma, California, Virginia
Walmart said it will make two-thirds of its hourly jobs in the full time by early 2022. Workers are demanding full-time jobs, which have better health and dental benefits, a Walmart vice president told the AP. With this move, announced Wednesday, the nation's largest private employer says it will have 740,000 of its 1.2 million U.S. Walmart hourly store workers work full time by Jan. 31. That would mean it will have roughly 110,00 more full-time workers than it did five years ago. With team scheduling, Walmart workers will have consistent 39 to 40-hour schedules, the retailer said.
Persons: Jan, Drew Holler, Walmart's, Holler, it's, Mark Mathews Organizations: Walmart, Workers, AP, Sam's, Associated Press, Target, Costco, U.S, National Retail Federation Locations: Bentonville , Arkansas
Armed with vaccines and pockets full of savings, Americans will soon be in the mood to shop for some new clothes. As of January, retail stores had enough inventory to cover just over a month of sales—a record low. They typically benefit from a greater selection when apparel brands are overstocked. Ralph Lauren noted that its average selling price grew 19% in its quarter ended Dec. 26 compared with a year earlier. Higher selling prices would also allow retailers to soften the blow from shipping charges, which have surged.
Persons: Jefferies, Calvin Klein’s, PVH, Armour, Ralph Lauren, Michael Kors, Versace, , Simeon Siegel, Jinjoo Lee Organizations: Shoppers, Citi, National Retail Federation, Capri Holdings, Brands, BMO Capital Markets Locations: ShopperTrak, Suez, Los Angeles, Long, Macy’s, Dickies, North America, jinjoo.lee
REUTERS/Arnd WiegmannAbout a month before Easter, people posted images of do-it-yourself Easter cookie kits and Easter baskets on Pinterest, according to Hershey Co’s research. Based on the trend, Hershey moved quickly to add recipes incorporating Hershey Cadbury crème eggs and Hershey chocolate syrup to the company’s own “Easter” and “Cakes and Cupcakes” boards on Pinterest. Slideshow ( 4 images )PINTEREST PROMINENCEPinterest operates like an online mood board, where users pin images they like to several different interest-specific boards on their page. Halvorson said the platform “had made the biggest progression on insights” on which it could act upon, including for Easter. – consumers are searching for snacks, what kind, and where they’re looking to buy them,” said Halvorson of social media sites, including Pinterest.
Persons: they’ve, Eric's Confiserie Baumann, Hershey, ” Philip Stanley, Prosper, ” Hershey, Allison Kleinfelter, , Sibylle Tretera, Jonathan Halvorson, Halvorson, “ We’re, , Reese’s, Kleinfelter Organizations: Reuters, Hershey, REUTERS, Hershey Cadbury, National Retail Federation, Mondelez, Facebook, Easter Sunday, Reese’s mallow Locations: Zurich, Switzerland, Pennsylvania, U.S, Europe, Middle East, Africa, Pinterest, Chicago
Rent the Runway co-founder discusses shopping post-Covid
  + stars: | 2021-04-01 | by ( ) www.cnbc.com sentiment -0.74   time to read: 1 min
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailRent the Runway co-founder discusses shopping post-CovidThe National Retail Federation forecasts retail sales will grow at 6.5 percent this year. Rent the Runway co-founder Jenny Fleiss left the company then began a start-up at Walmart and now is getting involved in venture capital. She joins 'Closing Bell' to discuss the outlook of retail post Covid.
Persons: Jenny Fleiss Organizations: National Retail Federation, Walmart
4 Big Losers of the Suez Canal Fiasco — and 4 Big Winners
  + stars: | 2021-03-31 | by ( Mike King | ) www.businessinsider.com + 0.00   time to read: +10 min
The blockage of the Suez Canal caused massive economic pain for some companies. Container shipping supply was already struggling to keep up with the pandemic-driven switch in consumer expenditure from services to products. Suez Canal AuthorityWinner: Airlines"Cargo always finds a way" is a common aphorism among logisticians. In this photo released by Suez Canal Authority, the Ever Given, a Panama-flagged cargo ship is accompanied by Suez Canal tugboats as it moves in the Suez Canal, Egypt, Monday, March 29, 2021. Loser: The Suez CanalQuestion marks remain about how and why the Ever Given managed to lose control as it transited the Suez Canal, and about the manner in which the Egyptian state-owned Suez Canal Authority (SCA) managed the disaster as it unfolded.
Persons: Randy Giveans, Jefferies, they're, Giveans, John D, Lars Jensen, Jensen, Phil Levy, Levy, Cathy Roberson Organizations: Retailers, Container, Maersk, CMA, MSC, National Retail Federation, McCown, Walmart, Home, Target, TAC, Fort Worth International, FedEx, DHL, Atlas Air, Sea Intelligence Consulting, Spikes, Suez Canal Authority, Suez, Authority, Shipping, Ship Lease, Star Bulk Carriers, Genco Shipping Locations: Suez, Europe, China, Egypt, Shanghai, Los Angeles, Dallas, London Heathrow, Africa, Rotterdam, Felixstowe, Antwerp, Panama, America
The Suez Canal, which separates Africa from Asia, is one of the busiest trade routes in the world, with approximately 12% of total global trade moving through it. Lars Jensen, CEO of Sea Intelligence Consulting, tells CNBC the schedule reliability for container vessels is already in disarray as a result of the pandemic. "Right now two out of three container vessels arrive late," he explained. Stranded container ship Ever Given, one of the world's largest container ships, is seen after it ran aground, in Suez Canal, Egypt March 25, 2021. Suez Canal Authority | ReutersInventory impactIn addition to delaying thousands of containers loaded with consumer items, the stranded ship has also tied up empty containers, which are key for Chinese exports.
Persons: Jon Gold, Alan Baer, Baer, BIMCO, Peter Sand, Lars Jensen, Jon Monroe, Monroe Organizations: National Retail Federation, Energy, BIMCO, U.S ., Suez, World Shipping Council, Sea Intelligence Consulting, CNBC, Authority, Jon Monroe Consulting, Consumer Locations: Suez, Africa, Asia, USA, West Coast, U.S, shipowners, U.S . East Coast, Panama, India, Suez Canal, Egypt, China
Year-to-date, some ETFs tied to oil, air travel and retail have seen record highs. Investors are finding ETFs to be a solid bet on a range of reopening plays, sending some funds soaring year-to-date in 2021. Still, a summer rally may be in store for the oil ETF amid a tighter market. XRTThe SPDR S&P Retail ETF primarily invests in the US retail industry from apparel, automotive, computer and electronic, to department stores, general merchandise stores, and internet and direct marketing, among others. Many of the retail companies have also invested in enhancing their online presence to catch up on the e-commerce trend that many experts say is here to stay.
Persons: Andrew Chanin, Andrew Slimmon, Brent Organizations: Morgan Stanley Investment Management, Federal, USO, United States Oil Fund, Bank of America, JETS, US Global Jets, United Airlines, American Airlines, Southwest Airlines, Delta Airlines, Alaska Air Group, Transportation, Administration, P Retail, Holdings, Hibbett, eBay, Murphy USA, Dick's Sporting Goods, Albertsons, National Retail Federation Locations: Texas
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