Christian Retailing

NEWSLETTERS Current Issue NRF expects stronger second half of retail year
NRF expects stronger second half of retail year PDF Print E-mail
Written by Christine D. Johnson   
Thursday, 24 July 2014 11:31 AM EDT

iStock 000001589232-webThe National Retail Federation on Wednesday lowered its retail sales forecast for 2014 because of slow growth recorded during the first half of the year, but it said sales are expected to grow significantly faster over the next five months. NRF forecasted in January that retail sales would grow 4.1% in 2014 over 2013, but today’s revision lowers the forecast to a 3.6% bump.

NRF calculated that sales grew 2.9% during the first half of the year and are expected to grow at least 3.9% during the second half. The numbers include general retail sales and non-store sales and exclude automobiles, gasoline stations and restaurants.

“No retailer was immune to the doldrums witnessed during the first quarter, and as a result, the year’s growth trajectory was impacted,” said NRF President and CEO Matthew Shay. “That said, there is plenty of evidence that the second half of the year will be better for the industry as consumers begin to feel more optimistic about their spending decisions.  

“And though we maintain realistic expectations of retail sales growth in 2014, we are optimistic that the chances for a stronger economy still exist,” Shay continued.

NRF Chief Economist Jack Kleinhenz sees brighter days ahead for retailers.

“The severe weather and other factors we experienced earlier this year have taken their toll on retail, but most of those problems are behind us,” Kleinhenz said. “A second look at our forecast shifted our expectations slightly, but it’s important to note that the outlook is positive. Sales are growing, and we expect them to continue at a moderate pace.”

In this month’s Monthly Economic Review (nrf.com/news/2014-retail-sales-update), Kleinhenz observed that “one of the worst winters in recent memory kept shoppers home during the first quarter, and weak numbers for real estate, inventories and exports continued to hamper the economy through the second quarter. However, employment has grown at its strongest pace since 2005, business and consumer confidence have edged higher, manufacturing activity has expanded, and inflationary pressures remain tame, improving expectations for the second and third quarters.”

 

In this current issue:

‘Harbinger’ follow-up hits ‘New York Times’ list

News image

Jonathan Cahn’s The Mystery of the Shemitah (FrontLine) has charted simultaneously...

READ MORE

CBA announces ICRS 2015 theme

News image

CBA has announced the 2015 International Christian Retail Show (ICRS)...

READ MORE

HarperCollins hires new Bible executive

News image

HarperCollins Christian Publishing (HCCP) announced Thursday that John Kramp will...

READ MORE

Southern Gospel Music Association announces Hall of Fame inductees

News image

The Southern Gospel Music Association (SGMA) announced the eight individuals...

READ MORE

Chick-fil-A founder and author Truett Cathy dies at 93

News image

S. Truett Cathy, Chick-fil-A founder and chairman emeritus, died at...

READ MORE

Harvest House apologetics author John Weldon dies at 66

News image

Harvest House Publishers author John Weldon died Saturday afternoon, Aug....

READ MORE

Willie Robertson joins ‘Left Behind’ production team

News image

Duck Dynasty star Willie Robertson will executive-produce Left Behind, the...

READ MORE

New Growth Press teams with GRACE for publishing partnership

News image

New Growth Press and GRACE (Godly Response to Abuse in...

READ MORE

Jonathan Cahn’s second book achieves publishing milestone

News image

Jonathan Cahn’s The Mystery of the Shemitah (FrontLine) debuted at...

READ MORE

B&H Kids acquires select Standard Publishing titles

News image

B&H Kids recently acquired 90 children’s titles from Standard Publishing....

READ MORE

Karen Kingsbury lends her voice to Scripture

News image

New York Times and USA Today best-selling author Karen Kingsbury...

READ MORE

Send The Light relaunches church supply program

News image

Send The Light Distribution has expanded and relaunched its Premier...

READ MORE
100%
-
+
0
Show options

a