National Retail Federation predicts record 2024 holiday sales
The National Retail Federation (NRF) said Tuesday that holiday sales are on track to set a new record in 2024 and could increase by up to 3.5% from 2023. NRF projects holiday retail sales from Nov. 1 to Dec. 31 will total approximately $980 billion and $990 billion, up from $955.6 billion for the same […]
NYC retail leasing shows signs of rebound after COVID carnage
It may be too early to pop the champagne cork, but Manhattan's massive retail leasing industry is showing strong signs of ending the pandemic carnage. Even before anyone had heard of COVID-19, online shopping reduced demand for brick-and-mortar stores by perhaps 10%. The lockdown made things even worse. Readers of this column know that we […]
Banking, retail groups most effective on policy in 2024: survey
Perceptions of the effectiveness of industry associations rose in 2024 after declining for two consecutive years, according to a study. APCO survey It was released on Tuesday. The financial services industry and retail and general business groups were ranked the most effective at achieving policy goals this year, according to the study, as the two […]
J&R Music owner looking to sell former retail space after Fed cut
The iconic retail and office space at 15 Park Row, once home to J&R Music, is being put up for sale by owner Rachel Friedman as a 200-year condominium lease. The 15,186 square feet of office space on the second floor is leased to creative agency DBOX until November 2026, but all of the 19,327 […]
Salt Life Apparel Brand to Close All 28 Retail Locations
Beach and water apparel brand Salt Life will close all retail stores after being sold to a new owner who has decided to liquidate the brand, parent company officials announced Tuesday. Founded in 2003 in Jacksonville Beach, Florida, the clothing line was owned by Delta Apparel Inc. submitted Fox Business reported that the company filed […]
Salt Life apparel brand to close all retail stores after bankruptcy auction
Dozens of Salt Life retail stores across the country will close as a result of the company's recent acquisition. One of the brand's new owners, Hilco Consumer Retail Group, announced Tuesday that it would close all 28 of its retail stores. Liquidation is underway as new management plans to restructure the fashion company and develop […]
Australia Finds No ‘Clear Public Interest’ for Retail CBDC – PYMNTS.com
If Australia were to issue a digital currency, it would likely be for wholesale use rather than retail. it is, Report The country's central bank issued a statement on Wednesday (September 18) claiming that it has not yet found a “clear public interest case” for issuing a retail central bank digital currency (CBDC) in Australia. […]
Retail Sales Unexpectedly Rose in August, Lowering Chances of a Bigger Rate Cut
U.S. consumers unexpectedly increased spending in August, defying expectations that a softening labor market would dampen retail purchases. Retail sales rose 0.1% in August, Commerce Department data released Tuesday showed, after an upward revision to a 1.1% increase the previous month. While rising sales are unlikely to derail the Federal Reserve's plans to cut interest […]
US retail sales unexpectedly rise, lowering odds for big rate cut
U.S. retail sales unexpectedly rose last month, a surprisingly strong result that likely reduces the likelihood of a big interest rate cut from the Federal Reserve this week. Retail purchases rose 0.1% in August, Commerce Department data released Tuesday showed, beating economists' expectations of a 0.2% decline as cash-strapped consumers showed resilience despite a shaky […]
Stock futures rise as Wall Street awaits retail sales data, Fed policy meeting: Live updates – CNBC
Traders work on the floor of the New York Stock Exchange on September 13, 2024. Spencer Pratt | Getty Images Stock futures rose on Tuesday as Wall Street prepared for key retail sales data and the start of the Federal Reserve's September policy meeting. Futures S&P 500 increased by 0.3%, Nasdaq 100 Futures It rose […]