RAPAPORT... U.S. holiday sales rose 3 percent year on year to $626.1
billion despite unforeseen weather conditions and an “extreme deflationary
retail environment,” according to the National Retail Federation (NRF). This
total growth in retail revenue, which includes online sales, lags the NRF’s 3.7-percent
increase forecast for the season.
Non-store holiday sales grew 9 percent to $105 billion,
according to a statement January 15.
Retail sales in December – excluding automobiles, gas
stations and restaurants – increased 3.1 percent on an unadjusted basis.
“Make no mistake about it, this was a tough holiday
season for the industry,” said Matthew Shay, NRF‘s president and chief
executive officer.
“Weather, inventory challenges, advances in consumer
technology and the deep discounts that started earlier in the season and that
have carried into January presented stiff headwinds as retailers competed with
one another and their own bottom line. Despite these factors, the industry
rallied, consumers responded and sales still grew at a healthy rate, which is a
huge testament to the resilience, knowledge and expertise of our retail
leadership.”
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