Strong holiday season for retailers in 2016-17: NRF | Retail News USA
Home » News » Retailers News » Strong Holiday Season For Retailers In 2016 17 Nrf

Strong holiday season for retailers in 2016-17: NRF

Share: 
      Newsletter

READ MORE ON Holiday SeasonMarket ReportNRFRetail Information

Washington Port

Image Courtesy: flickeflu.com

Major US’ retail container ports are noting an unexpected growth in imports during the busy holiday season, according to the monthly Global Port Tracker report by National Retail Federation and Hackett Associates. “We are not expecting final sales numbers for few more days, but yes, with import volumes we can see retailer’s strong holiday season,” NRF’s Vice President for Supply Chain and Customs Policy Jonathan Gold said.

According to the reports, ports covered by Global Port Tracker handled 1.64 million twenty-foot equivalent units (TEU) in November; December is estimated at 1.54 million TEU, up 7 per cent Y-o-Y instead of expected 3.2 per cent rise. Additionally, NRF’s annual forecast called for US $ 655.8 billion in 2016 holiday sales during November and December, a 3.6 per cent increase over 2015. November sales were up by 5 per cent Y-o-Y, and the Commerce Department is scheduled to release December data soon.

Also ReadHalloween spending to reach US $ 8.4 billion mark: NRF
Cargo volume for 2016 is now estimated at 18.8 million TEU, up by 2.9 per cent from 2015 as against previously expected 2 per cent. Total volume for 2015 was 18.2 million TEU, up by 5.4 per cent from 2014.

January is forecast at 1.57 million TEU, up by 5.7 per cent from January 2016; February at 1.52 million TEU, down 1.5 per cent from last year; March at 1.41 million TEU, up by 6.5 per cent from last year; April at 1.55 million TEU, up 7.3 per cent, and May at 1.61 million TEU, down by 0.5 per cent.

“Economic data is fickle by nature – it surges and falls and often surprises us,” Hackett Associates Founder Ben Hackett said, referring to some of the contradictory economic numbers seen over the past year. “There is both optimism and pessimism, pointers are there only for showing growth as well as ‘destagnation’,”he added.

 

Have some news? Let us know on news@apparelresources.com

Recommended by Apparel Resources

Duluth Holdings Celebrates Grand Opening of its Twentieth Store in Warwick, Rhode Island

BELLEVILLE, Wis., April 27, 2017 (GLOBE NEWSWIRE) -- Duluth Holdings Inc. (dba, Duluth Trading Company) (“Duluth Trading”) (NASDAQ:DLTH), a lifestyle brand of men’s and women’s casual wear, workwear and accessories,...

Zivame opens one more Studio in India

Indian lingerie e-retailer Zivame has launched its Studio in Chandigarh. The retailer has already launched its studios in seven cities: Bangalore, Pune, Delhi,...

Kering reports surge in first quarter revenue

Kering, the French holding group which owns fashion brands like Alexander McQueen, Balenciaga, Brioni, Gucci, Puma, Volcom, Saint Laurent Paris, and other luxury,...

Online fashion retailer Boohoo sees surge in sales

Online fashion retailer Boohoo recently unveiled its sales report for the year ended February 28, 2017. In the reporting period, the company’s net...

J.Crew announces strategic changes; to axe 250 employees

New York (US)-based fashion brand J.Crew has declared several calculated changes across its organization to place itself on a faster growth chart. As...

Fashion brand H&M named ‘Top Global Employer’: Report

Swedish fashion brand Hennes & Mauritz (H&M) has been named as Top Global Employer in Business of Fashion’s first ever annual report on The Best...

Sears gets new CFO in six months

American holding company Sears Holdings has recently announced appointment of Rob Riecker, the company’s controller and head of capital market activities as the...

BIBA plans to strengthen its kidswear segment

India-based ethnic wear retailer BIBA is planning to increase the number of its standalone stores for its kidswear category BIBA Girls and also...

LVMH to integrate Christian Dior Couture

The European multinational luxury goods conglomerate LVMH has announced that it is going to integrate the entire Christian Dior brand within the luxury...

India’s Reliance Retail sees 40.4% surge in profit

Reliance Retail, retail arm of Reliance Industries Ltd. (RIL), has announced 40.4 per cent increase in profit before depreciation, interest and taxes (PBDIT)...