WASHINGTON-- (BUSINESS WIRE) - 11/10/2013 - The National Retail Federation issued the following statement on October 8 from NRF President and CEO Matthew Shay and Chief Economist Jack Kleinhenz on the October jobs report:
“The latest jobs report, which came in stronger than anticipated, provides some positive indication that the economy and employment situation are steadily improving”
“It is now incumbent upon policymakers to address our pending fiscal and budgetary questions sooner rather than later. We cannot afford to repeat the same mistakes, which led us to a government shutdown and to the brink of default.”
NRF calculated retail industry job gains at 37,600 in October, and 295,000 year-over-year, a 2.4 percent increase over 2012. Job gains were seen in every retail sector with the exception of clothing and clothing stores, which witnessed a contraction of 12,500 positions in September.
In its annual holiday sales and employment forecast, NRF predicted that retailers would see a 3.9 percent increase in sales, and hire an additional 720,000 to 780,000 employees this holiday season.
“Today’s report puts the U.S. economy in a very positive light heading into the fall and winter seasons,” Kleinhenz said. “The government shutdown had little to no impact on the improving employment situation, which is steadily improving along with GDP. While retailers and businesses are hiring, consumers remain cautious, but we remain steadfast in our belief that consumer confidence and spending will improve.”
The Bureau of Labor Statistics Employment Situation report showed that the economy added 204,000 jobs in October. Unemployment was calculated at 7.3 percent.
See: National Retail Federation forecast
Early Attacks On Democratic Norms
VICE Vault: Some religious organizations are protecting their wealth and political influence while threatening our country’s democratic norms – all with the aid of America’s political elite.
Showing posts with label sales. Show all posts
Showing posts with label sales. Show all posts
Survey Points to Changes in Consumer Spending
NEW YORK - (BUSINESS WIRE) - 3/4/2012 - A shocking 52 percent of Americans are struggling to afford the necessities, and for many even that is a stretch, according to WSL/Strategic Retail, the leading authority on shopper behavior and retail trends. The finding was revealed today as part of the Company’s How America Shops® MegaTrends report, Moving On 2012.
Youth market no longer retail’s golden ticket. The youth market, 18-34 year olds, has the highest percent of those who do not have enough money to cover their basic needs, with close to a quarter (24 percent ) in financial turmoil. Compared with people over 35, who were able to launch their careers 10 years ago, when times were good, this group is a long way from recovery, compelling retailers targeting this group to seriously rethink their strategies.
Branded products under threat. Shoppers in general are placing a greater focus on price, with two thirds (67 percent ) of women agreeing that trusted brand names are not worth paying more for. More than a quarter (26 percent ) of women admit that while they used to buy brand names they could not afford, they are no longer giving in to this indulgence. This figure is up 7 percentage points from 2010.
Six-figure incomes struggle. It takes a significantly higher income to feel financially secure in this economy, with nearly 30 percent of Americans in the $100-150K income bracket claiming they can only afford the basics. Once considered affluent, six-figure income shoppers are now identifying themselves as middle-income.
“There is a huge fundamental issue when more than half of Americans can only afford basic necessities and people who earn up to $150,000 think they are poor,” said Wendy Liebmann, CEO of WSL Strategic Retail. “Look, American shoppers are moving on and coming back to shopping, but at their own pace. As a result, retail sales are precarious and likely to fluctuate up one month, down the next. That’s not going to change any time soon. Brands and retailers cannot ignore this. They will need to re-think the way they do business over the next three to five years - or longer.”
“The youth market, which has traditionally been known for its enthusiastic spending of discretionary income, has virtually dried up. As today’s young adults struggle to find employment and pay down student loan debt, this demographic now represents the largest percentage of Americans who are challenged to afford even basic necessities,” WSL Stragegic Retail President Candace Corlett said.
Key additional findings:
Youth market no longer retail’s golden ticket. The youth market, 18-34 year olds, has the highest percent of those who do not have enough money to cover their basic needs, with close to a quarter (24 percent ) in financial turmoil. Compared with people over 35, who were able to launch their careers 10 years ago, when times were good, this group is a long way from recovery, compelling retailers targeting this group to seriously rethink their strategies.
Branded products under threat. Shoppers in general are placing a greater focus on price, with two thirds (67 percent ) of women agreeing that trusted brand names are not worth paying more for. More than a quarter (26 percent ) of women admit that while they used to buy brand names they could not afford, they are no longer giving in to this indulgence. This figure is up 7 percentage points from 2010.
Six-figure incomes struggle. It takes a significantly higher income to feel financially secure in this economy, with nearly 30 percent of Americans in the $100-150K income bracket claiming they can only afford the basics. Once considered affluent, six-figure income shoppers are now identifying themselves as middle-income.
“There is a huge fundamental issue when more than half of Americans can only afford basic necessities and people who earn up to $150,000 think they are poor,” said Wendy Liebmann, CEO of WSL Strategic Retail. “Look, American shoppers are moving on and coming back to shopping, but at their own pace. As a result, retail sales are precarious and likely to fluctuate up one month, down the next. That’s not going to change any time soon. Brands and retailers cannot ignore this. They will need to re-think the way they do business over the next three to five years - or longer.”
“The youth market, which has traditionally been known for its enthusiastic spending of discretionary income, has virtually dried up. As today’s young adults struggle to find employment and pay down student loan debt, this demographic now represents the largest percentage of Americans who are challenged to afford even basic necessities,” WSL Stragegic Retail President Candace Corlett said.
Key additional findings:
- A stunning 75 percent of women now say it’s important get the lowest price on everything they buy, up 12 percentage points. from 2008 and up 22 percentage points from 2004. Some old and new methods of ensuring they get the lowest price include:
- 68 percent regularly use coupons to reduce costs -- up 7 percentage points. vs. 2010.
- 45 percent claim they only buy items that are on sale -- also up 7 percentage points
- 43 percent make a point to search online for store discounts before they shop -- up 10 percentage points
- 14 percent of women say they use their mobile phones while in store to see if they can find a lower price, before they buy.
- The “cautious pause” before buying to ask, “Is this a smart use of my money?” (Total: 66 percent , HHI $150K: 47 percent )
- Managing their aspirations by sticking to brands and stores they can afford (Total: 58 percent , HHI $150K: 36 percent )
- Staying out of stores where they might be tempted to overspend (Total: 48 percent , HHI $150K: 28 percent )
- Buying less when they go shopping (Total: 43 percent , HHI $150K: 26 percent )
NRF: Strong January Retail Sales a Positive Sign
WASHINGTON - (BUSINESS WIRE) - 2/14/2012 - Building on the momentum of a strong holiday shopping season and propelled by gift card redemptions and warm weather, retailers’ January sales saw solid growth across the board. According to the National Retail Federation, January retail industry sales (excluding automobiles, gas stations and restaurants) increased 0.9 percent seasonally adjusted from December and 4.0 percent unadjusted year-over-year.
“Thanks to a combination of unseasonably warm weather across much of the country and millions of shoppers with gift cards burning holes in their pockets, retailers are still riding the tailwinds of consumers’ spending power,” said National Retail Federation President and CEO Matthew Shay. “As a traditionally slower sales month for the industry, it’s encouraging to see such sustained growth in consumer spending and sentiment.”
January retail sales data, released today by the U.S. Department of Commerce, showed total retail sales (which include non-general merchandise categories such as autos, gasoline stations and restaurants) increased 5.6 percent unadjusted year-over-year and 0.4 percent seasonally adjusted month-to-month.
“A slightly improving labor market with gains in payrolls has lifted consumer confidence in January and corresponds with increasing retail sales,” said NRF Chief Economist Jack Kleinhenz. “However consumer spending alone will not be enough to sustain economic growth or provide a strong foundation for consistent retail sales and growth. We must see improvements in key economic indicators, such as housing and employment.”
Likely due to January’s unseasonal warmer weather, sales in sporting goods, hobby, book and music stores increased 1.1 percent seasonally month-to-month and 3.5 percent unadjusted year-over-year.
General merchandise stores’ sales increased 2.0 percent seasonally-adjusted over December and 4.7 percent unadjusted year-over-year.
Many consumers in January seemed to take advantage of the warm temperatures to work on their home and gardens. Sales at building material, garden equipment and supplies dealers increased 0.2 percent seasonally adjusted from the previous month and a strong 10.5 percent unadjusted year-over-year.
Sales at furniture and home furnishing stores decreased 0.2 seasonally adjusted from December and increased 7.9 percent unadjusted year-over-year.
Electronics and appliance stores’ sales increased 0.5 percent seasonally adjusted month-to-month and decreased 1.1 percent unadjusted year-over-year, and sales at clothing and clothing accessory stores’ sales were flat over the previous month and increased 3.4 percent unadjusted over last year.
“Thanks to a combination of unseasonably warm weather across much of the country and millions of shoppers with gift cards burning holes in their pockets, retailers are still riding the tailwinds of consumers’ spending power,” said National Retail Federation President and CEO Matthew Shay. “As a traditionally slower sales month for the industry, it’s encouraging to see such sustained growth in consumer spending and sentiment.”
January retail sales data, released today by the U.S. Department of Commerce, showed total retail sales (which include non-general merchandise categories such as autos, gasoline stations and restaurants) increased 5.6 percent unadjusted year-over-year and 0.4 percent seasonally adjusted month-to-month.
“A slightly improving labor market with gains in payrolls has lifted consumer confidence in January and corresponds with increasing retail sales,” said NRF Chief Economist Jack Kleinhenz. “However consumer spending alone will not be enough to sustain economic growth or provide a strong foundation for consistent retail sales and growth. We must see improvements in key economic indicators, such as housing and employment.”
Likely due to January’s unseasonal warmer weather, sales in sporting goods, hobby, book and music stores increased 1.1 percent seasonally month-to-month and 3.5 percent unadjusted year-over-year.
General merchandise stores’ sales increased 2.0 percent seasonally-adjusted over December and 4.7 percent unadjusted year-over-year.
Many consumers in January seemed to take advantage of the warm temperatures to work on their home and gardens. Sales at building material, garden equipment and supplies dealers increased 0.2 percent seasonally adjusted from the previous month and a strong 10.5 percent unadjusted year-over-year.
Sales at furniture and home furnishing stores decreased 0.2 seasonally adjusted from December and increased 7.9 percent unadjusted year-over-year.
Electronics and appliance stores’ sales increased 0.5 percent seasonally adjusted month-to-month and decreased 1.1 percent unadjusted year-over-year, and sales at clothing and clothing accessory stores’ sales were flat over the previous month and increased 3.4 percent unadjusted over last year.
Survey: 2011 Retail Sales to Increase 3 Percent
CHICAGO - (BUSINESS WIRE) - 9/22/2011 - In the midst of a difficult economic climate, retailers expect solid year-end results. According to a recent survey by BDO USA, LLP, retail CFOs anticipate a 3 percent increase in total 2011 sales. While this marks the study’s most optimistic sales forecast since 2007, it is down from the 4.7 percent sales increase reported by the Commerce Department in 2010.
The vast majority (77%) of CFOs also say they expect to see a continuation of stagnant economic conditions. Just 11 percent expect to see an economic turnaround in the next year, up slightly from 2010 (9%). Thirty-eight percent of CFOs say improved consumer confidence will be most important factor for economic recovery, and another 36 percent cite lower unemployment as the linchpin.
“Retailers may not anticipate a full recovery in the near future, but we’re not seeing gloom and doom in sales expectations,” said Doug Hart, partner in the Retail and Consumer Product Practice at BDO USA, LLP. “Despite low confidence levels, macroeconomic conditions are not weighing on the consumer’s wallet as much as expected, and CFOs anticipate moderate spending levels to continue through the holiday season.”
These findings are from the fifth-annual BDO Retail Compass Survey of CFOs, which examined the opinions of 100 chief financial officers at leading retailers located throughout the country. The retailers in the study were among the largest in the country, including 10 percent of the top 100 based on annual sales revenue. The survey was conducted in August and September of 2011.
Other major findings of the 2011 BDO Retail Compass Survey of CFOs:
CFOs Forecast Comparable Store Sales Increase. Retailers are moderately optimistic for sales in the second half of 2011, including the all-important holiday season. A majority (51%) expect sales to increase during this period, up from 44 percent in 2010. Overall, retailers project a 3.5 percent increase in comparable store sales for the second half of 2011, an increase from CFOs’ pessimistic 2010 projections (1.9%). For all of 2011, retail CFOs forecast a 2.3 percent increase in comparable store sales.
M&A Activity to Increase, Focused in U.S. Market. The appetite for M&A deals is on the rise. Nearly all (96%) of retail CFOs expect M&A activity to increase or remain steady in the next year. Most CFOs (66%) expect M&A activity to take place primarily in the United States, followed by the Asia-Pacific region (18%) and Europe (16%). However, the CFOs in the top 100 largest retailers who were included in the sample have greater expectations for the international market. Seventy-five percent of CFOs in the top 100 expect Europe to see the majority of M&A activity.
Both Strategic and Financial Buyers Key to M&A Uptick. Although private equity deals have dominated acquisition activity, CFOs are predicting an increase in strategic buyouts this year. In fact, CFOs are split on whether upcoming M&A activity will be primarily driven by strategic buyers (52%) or financial buyers (48%). On average, CFOs say they would expect to see an EBITDA (earnings before income and tax, depreciation and amortization) multiple of 6.5 for an acquisition in the retail and consumer product space. According to averages from PitchBook, this multiple is down from the 2010 average of 6.8 and the 2009 average of 8.2.
Revenue & EBITDA are Primary Financial Metrics. Retailers place great weight on sales growth, and 38 percent of CFOs say revenue is their primary financial metric focus. Still, another 36 percent say EBITDA is their primary financial focus. Sales growth is normally considered the best snapshot of the strength of the retailer’s brand, and competitive positioning. However, when it comes to credit and financing decisions, EBITDA is paramount, as it is considered the best indicator of recurring cash flows.
Unemployment Still Plaguing Consumers. With unemployment levels hovering around 9.1 percent, it’s no surprise that CFOs cite it as the biggest barrier to consumer confidence (57%) so far this year. CFOs also point to fuel prices (17%), personal credit availability (14%), weak housing market (7%) and inflation (5%). CFOs surveyed after the U.S. credit downgrade noted a greater concern over personal credit, with 21 percent citing it as the biggest barrier to confidence, compared to 14 percent of the sample overall. For the remainder of 2011, CFOs consistently say unemployment (63%) will be the biggest bully to confidence, and relief does not appear to be in sight. The Congressional Budget Office predicts that unemployment will remain above 8 percent until 2014.
The vast majority (77%) of CFOs also say they expect to see a continuation of stagnant economic conditions. Just 11 percent expect to see an economic turnaround in the next year, up slightly from 2010 (9%). Thirty-eight percent of CFOs say improved consumer confidence will be most important factor for economic recovery, and another 36 percent cite lower unemployment as the linchpin.
“Retailers may not anticipate a full recovery in the near future, but we’re not seeing gloom and doom in sales expectations,” said Doug Hart, partner in the Retail and Consumer Product Practice at BDO USA, LLP. “Despite low confidence levels, macroeconomic conditions are not weighing on the consumer’s wallet as much as expected, and CFOs anticipate moderate spending levels to continue through the holiday season.”
These findings are from the fifth-annual BDO Retail Compass Survey of CFOs, which examined the opinions of 100 chief financial officers at leading retailers located throughout the country. The retailers in the study were among the largest in the country, including 10 percent of the top 100 based on annual sales revenue. The survey was conducted in August and September of 2011.
Other major findings of the 2011 BDO Retail Compass Survey of CFOs:
CFOs Forecast Comparable Store Sales Increase. Retailers are moderately optimistic for sales in the second half of 2011, including the all-important holiday season. A majority (51%) expect sales to increase during this period, up from 44 percent in 2010. Overall, retailers project a 3.5 percent increase in comparable store sales for the second half of 2011, an increase from CFOs’ pessimistic 2010 projections (1.9%). For all of 2011, retail CFOs forecast a 2.3 percent increase in comparable store sales.
M&A Activity to Increase, Focused in U.S. Market. The appetite for M&A deals is on the rise. Nearly all (96%) of retail CFOs expect M&A activity to increase or remain steady in the next year. Most CFOs (66%) expect M&A activity to take place primarily in the United States, followed by the Asia-Pacific region (18%) and Europe (16%). However, the CFOs in the top 100 largest retailers who were included in the sample have greater expectations for the international market. Seventy-five percent of CFOs in the top 100 expect Europe to see the majority of M&A activity.
Both Strategic and Financial Buyers Key to M&A Uptick. Although private equity deals have dominated acquisition activity, CFOs are predicting an increase in strategic buyouts this year. In fact, CFOs are split on whether upcoming M&A activity will be primarily driven by strategic buyers (52%) or financial buyers (48%). On average, CFOs say they would expect to see an EBITDA (earnings before income and tax, depreciation and amortization) multiple of 6.5 for an acquisition in the retail and consumer product space. According to averages from PitchBook, this multiple is down from the 2010 average of 6.8 and the 2009 average of 8.2.
Revenue & EBITDA are Primary Financial Metrics. Retailers place great weight on sales growth, and 38 percent of CFOs say revenue is their primary financial metric focus. Still, another 36 percent say EBITDA is their primary financial focus. Sales growth is normally considered the best snapshot of the strength of the retailer’s brand, and competitive positioning. However, when it comes to credit and financing decisions, EBITDA is paramount, as it is considered the best indicator of recurring cash flows.
Unemployment Still Plaguing Consumers. With unemployment levels hovering around 9.1 percent, it’s no surprise that CFOs cite it as the biggest barrier to consumer confidence (57%) so far this year. CFOs also point to fuel prices (17%), personal credit availability (14%), weak housing market (7%) and inflation (5%). CFOs surveyed after the U.S. credit downgrade noted a greater concern over personal credit, with 21 percent citing it as the biggest barrier to confidence, compared to 14 percent of the sample overall. For the remainder of 2011, CFOs consistently say unemployment (63%) will be the biggest bully to confidence, and relief does not appear to be in sight. The Congressional Budget Office predicts that unemployment will remain above 8 percent until 2014.
Subjects
consumers,
economy,
sales,
unemployment
