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:

Christian Product Expo Murfreesboro gathers independent retailers

News image

Munce Group hosted independent Christian retailers Sept. 21-23 for the...

READ MORE

Christian Authors Network honors retailers at Munce-hosted expo

News image

The Christian Authors Network (CAN) presented three retailers with books...

READ MORE

David C Cook restructures, promotes Michelle Anthony

News image

David C Cook has merged all of the company’s learning-resource...

READ MORE

GMA Canada announces 36th Annual Covenant Award nominees

News image

Gospel Music Association (GMA) Canada has announced the nominees for...

READ MORE

‘Be the Message’ becomes ‘New York Times’ best-seller

News image

Houston-based megachurch pastors Kerry and Chris Shook’s latest book, Be...

READ MORE

Wanda Brunstetter reaches book-sales milestone

News image

Sales of Wanda E. Brunstetter’s books have topped 8 million...

READ MORE

Jay Sekulow's ‘Rise of ISIS’ becomes ‘New York Times’ best-seller

News image

Howard Books’ Rise of ISIS: A Threat We Can’t Ignore...

READ MORE

Send The Light partners with Fair Trade organization

News image

Send The Light Distribution has partnered with Gifts With a...

READ MORE

Revell joke book for kids sells half-million copies

News image

Revell, a division of Baker Publishing Group, has announced that...

READ MORE

Xulon launches political imprint

News image

Xulon Press and parent Salem Communications launched a new politically...

READ MORE

Moody’s Chapman Center expected to impact publishing ministry

News image

Author Gary Chapman and his wife, Karolyn, have given a...

READ MORE

AAP: Religious book sales drop in May

News image

Books published by religious presses fared well in April (+10.7%),...

READ MORE
100%
-
+
0
Show options

a