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Retail Federation Expects 4% Year-End Sales Increase
Oct 21, 2015 4:09 AM
By Rapaport News
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RAPAPORT... The National Retail Federation is projecting that overall sales in November and December could grow 3.7 percent year-on-year to $631 billion, according to data posted on the U.S. trade group’s website.
Over the past decade, holiday sales have grown 3.1 percent on average. Holiday sales can account for as much as 30 percent of a retailer’s annual sales.
The NRF also expects seasonal employment add as many as 750,000 jobs to the U.S. economy this year compared with more than 714,000 last holiday season. Last year’s hiring was a 7 percent lower than in 2013.
Specific retailer plans include: Macy’s as many as 85,000 new seasonal associates; Kohl’s 69,000; Walmart 60,000; and J.C. Penney 30,000.
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Tags:
employment, holidays, National Retail Federation, NRF, Rapaport News, seasonal employment
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