March 16, 2016 |
As March Madness starts Tuesday, it's not only die-hard hoops fans who are rejoicing. With three local teams - Villanova, Temple and St. Joseph's - all in the Big Dance, sports retailers are expecting strong sales. The fact that the Villanova Wildcats are ranked No. 6 in the nation and are a No. 2 seed going into the three-week tournament definitely boosts interest and foot traffic into their stores, they say. "Anything with 'Villanova' on it is out of here," said Tom Varrone, a retail manager for Schuylkill Valley Sports, an 18-store sporting goods chain in the Philadelphia region, including the Schuylkill Valley Style shop at Plymouth Meeting Mall, where Varrone works.
February 12, 2016 |
National retail sales are forecast to go up 3.1 percent in 2016 from last year, according to the National Retail Federation. The trade group said the growth will be fueled by strong job growth and more consumer spending. "There is a lot of enthusiasm about the year ahead, and there is a great deal of disruption going on at the moment, and disruption creates opportunity," said Matthew Shay, president and chief executive officer of the NRF. Shay said the 3.1 percent projection represents a rise from the 10-year average of 2.7 percent growth.
October 10, 2015 |
Holiday-season sales are forecast to increase 3.7 percent, not as much as a year ago but still solid, the head of the National Retail Federation said Thursday. November-through-December sales increased 4.1 percent last year, compared with 2013. "It's a strong, solid, realistic forecast reflective of the current state of the consumer and overall macroeconomic conditions, including historically low gas prices, home values improving, and consumer spending improving," Matthew Shay, president and CEO of the retail trade group, said during a conference call with reporters.
December 16, 2014
TWO WEEKS AGO, the National Retail Federation (NRF) reported that overall shopper traffic on Black Friday weekend - Thanksgiving Day through Sunday, Nov. 30 - dropped more than 5 percent from 2013. Actual spending was expected to decline by more than 6 percent from 2013. On Thursday, after a stronger-than-expected retail report from the Commerce Department, the NRF said that lower prices at the gas pump put more money in the pockets of consumers and that its forecast "is right on track" for 4 percent holiday-sales growth.
December 25, 2013 |
Target Corp., the nation's second-largest discount chain, continued to reel from its disclosure last week of a huge data breach that compromised 40 million credit- or debit-card accounts during the holiday season. Shoppers posted comments last weekend on Target's Facebook page saying the retailer needed to reissue its REDcard credit and debit cards. There were also mentions of long waits for customer service. Craig Johnson, president of the retail consultancy Customer Growth Partners, said Monday that REDcard usage fell over the weekend and more Target shoppers bought with cash.
July 17, 2013 |
WASHINGTON - The U.S. economy appears to be weaker than many economists had thought after a report Monday showed consumers spent cautiously in June at retail businesses. Americans bought more cars and trucks, furniture, and clothes. But they cut back on almost everywhere else. They spent less at restaurants and bars, reduced purchases at home improvement stores, and bought fewer computers and electronics. Overall retail spending rose 0.4 percent in June from May, the Commerce Department said.
July 13, 2013 |
NEW YORK - The stock market, which has been marching higher for a week, got extra fuel Thursday after Federal Reserve Chairman Ben Bernanke said the central bank would keep supporting the economy. The Dow Jones industrial average and Standard & Poor's 500 surged to all-time highs. A mix of additional economic news - much of it positive - added octane to the market's tank. Retail sales surged in June. The Treasury reported a rare monthly surplus. Foreclosures fell. And while new jobless claims rose, the numbers reflected steady hiring.
June 14, 2013 |
WASHINGTON - Americans stepped up purchases at retail businesses in May, spending more on cars, home improvement, and sporting goods. The gain shows that consumers remain resilient despite higher taxes and could drive faster growth later this year. The Commerce Department said Thursday that retail sales increased 0.6 percent in May from April. That's up from a 0.1 percent gain the previous month and is the fastest pace since February. The gain was led by a 1.8 percent jump in auto sales, the biggest increase in six months.
April 19, 2013 |
WASHINGTON - A strengthening housing recovery and robust auto sales contributed to moderate growth across the United States in late February and March, according to a Federal Reserve survey released Wednesday. All of the Fed's 12 banking districts grew moderately and growth accelerated in two districts - New York and Dallas - from January and early February. In the Philadelphia region, the Fed said business activity maintained a "modest pace of growth" evident earlier. "In particular, general services, staffing, tourism, and commercial real estate leasing continued to expand at modest rates," the survey said, while retail activity and residential construction in the area appeared to be slowing.
March 15, 2013 |
WASHINGTON - Thanks to solid job creation, Americans spent more at retailers in February despite smaller paychecks. The surprisingly strong increase helped allay fears that higher Social Security taxes and gasoline prices might chill spending early this year. Much of the increase in February retail sales compared with January reflected the higher gas prices. But even excluding the volatile categories of gas, autos, and building supply stores, so-called core retail sales rose strongly.