All articles tagged with #national retail federation
Dollar Tree shares fell on Wednesday following a National Retail Federation report indicating potential price increases due to President-Elect Donald Trump's proposed tariff policies. The stock, already down 56% year-to-date, is experiencing further pressure, affecting other discount retailers like Dollar General and Five Below.
The National Retail Federation has retracted its claim that nearly half of the $94.5 billion in missing merchandise in 2021 was due to organized theft, acknowledging that the figure was likely closer to 5 percent. The retraction comes after it was revealed that faulty data had been used to arrive at the inaccurate estimate. Despite claims from retail chains about being victims of large shoplifting operations, data suggests that the perception of rampant criminality is unfounded.
The National Retail Federation (NRF) has retracted its claim that organized retail crime accounted for nearly half of all inventory losses in 2021. The NRF acknowledged challenges in gathering accurate data and removed the statistic from its report, which was conducted in partnership with K2 Integrity. The error stemmed from a misinterpretation of a quote from a former president of the Coalition of Law Enforcement and Retail (CLEAR). CLEAR stands by its estimate that organized retail crime leads to $45 billion in annual inventory losses. Retail crime data is often unclear, with shoplifting trends showing mixed results across different cities. Some experts suggest that companies may be using the focus on theft to divert attention from other challenges in the retail industry.
The National Retail Federation (NRF) has revised a report that previously claimed organized retail crime accounted for nearly half of overall industry shrink. The revision comes after Retail Dive found mistakes in the data, leading to the NRF removing estimates of organized retail crime's impact and any reference to the Coalition of Law Enforcement and Retail (CLEAR). The NRF acknowledges the challenges in gathering accurate data on theft incidents and recognizes that organized retail crime remains a serious problem for retailers of all sizes. However, the extent and changing nature of the shoplifting problem still require further data analysis.
The National Retail Federation (NRF) has retracted its claim that "organized retail crime" accounted for nearly half of the $94.5 billion losses due to theft or "shrink" in the US retail industry in 2021. The NRF stated that the claim was based on an inference made by an analyst from a risk consultancy, and not directly from their own survey. However, the NRF still maintains that organized retail crime is a significant concern for the industry, as criminal groups have become more brazen and violent in their tactics. Retailers and politicians continue to address the issue of theft, but larger retailers are now acknowledging that the problem may have been exaggerated.
The National Retail Federation has retracted its claim that nearly half of the $94 billion in retail losses in 2021 were due to organized retail crime, stating that the claim was based on faulty data and an unconfirmed statement. While retail theft remains a concern, experts highlight that the reasons behind store closings are complex and include factors such as post-pandemic commuting patterns and the rise of online shopping. The NRF acknowledges the challenges in gathering accurate data on incidents and emphasizes the need for collaboration between the retail industry and law enforcement to address the issue.
Despite facing economic challenges such as inflation, high borrowing costs, and the resumption of student loan repayments, shoppers are projected to spend a record amount of money during the holiday season, according to the National Retail Federation (NRF). The NRF forecasts a 3% to 4% year-over-year increase in sales, amounting to approximately $957.3 billion to $966.6 billion. While this growth rate is slower than the average of the past decade, it aligns with pre-pandemic levels. However, economists anticipate consumers becoming more cautious due to rising interest rates and the resumption of student loan payments, potentially impacting consumer behavior during the holiday season.
The National Retail Federation (NRF) predicts that holiday sales in November and December will increase by 3% to 4% compared to last year, reaching between $957.3 billion and $966.6 billion. However, this growth is expected to be lower than the surge seen during the pandemic, as deal-hungry shoppers prioritize value and discounts. Inflation and higher prices for gift-giving items and food are driving reported sales growth, but the NRF's forecast does not account for inflation. Despite the NRF's expectations, major retailers like Target and Macy's have adopted a cautious approach and tempered their holiday sales expectations. Shoppers are expected to spend more this year but are also focused on finding deals, according to a survey conducted by the NRF.
A new report by the National Retail Federation (NRF) reveals that retail theft, particularly organized retail crime, has been on the rise in the US, resulting in significant inventory losses for retailers. The cities most impacted by retail theft in 2022 were Los Angeles, Oakland/San Francisco, Houston, New York City, and Seattle. The NRF emphasizes that retail crime affects businesses of all sizes and locations across the country and advocates for comprehensive research and collaborative solutions to combat theft. Congress has also passed the INFORM ACT to address the sale of counterfeit goods and dangerous products online.
According to the National Retail Federation's latest survey, the impact of theft on retailers' profits has remained relatively consistent over the years, despite recent attention on the issue. Total retail shrink increased to over $112 billion in 2022, up from $93.9 billion the previous year, with external theft (including organized retail crime) accounting for the largest source of shrink. However, when reported as a percentage of sales, average annual shrink remained in line with historical trends. The survey also highlighted concerns over the increased violence associated with retail theft, with many retailers implementing measures such as reduced store hours and changes in product selection to address the issue.
Walmart will be open on Easter Sunday for regular hours, generally 7 a.m.-11 p.m. The National Retail Federation predicts that Americans will spend $24 billion on Easter this year, with food, gifts, and candy topping the list. Walmart is the largest retailer in the US and is expected to benefit from the holiday spending.
America's biggest retailers have been warning about organized retail crime, which they claim has grown into a multibillion-dollar problem. However, the effectiveness of their strategies to solve it and the validity of the data overall have come into question. Studies from the National Retail Federation show retail shrink cost retailers $94.5 billion in 2021, up from $90.8 billion in 2020, but the data is largely qualitative and cannot be fact-checked because it's gathered from an anonymized set of retailers. External retail crime accounts for only 37% of those losses, or about $35 billion, the NRF data shows.