NRF CEO backs 2010 U.S. retail sales view
Washington, D.C. NRF CEO Matt Shay said Monday that he supports the organization’s latest report that U.S. retail sales are on track to rise 2.5% this year despite lingering unemployment and economic uncertainty, according to a report by Reuters.
In January, the National Retail Federation had forecast a 2.5% rise for 2010, as the industry comes out of its worst slump in decades. Shay’s comments were made at the Reuters Consumer and Retail Summit in New York City.
“Based on what we saw in the first four or five months of the year, I think we’re right on track,” said Shay. “We feel confident that 2.5% is the right number.”
He added that the NRF would have more data to support its forecast following the upcoming back-to-school shopping season.
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Landry’s owns a wide portfolio of gaming, restaurant and hospitality companies, including Landry’s Seafood House, Rainforest Café, Chart House and Saltgrass Steak House. It acquired the 12-unit Oceanaire Seafood Room in April. The company also owns the Golden Nugget casino hotels in Las Vegas and Laughlin, Nev.
In May, Landry’s reported that beneficial one-time items helped it double its first-quarter profit to $14.3 million, or 87 cents a share. Revenue for the March-ended quarter rose less than 1 percent, to $258.7 million. Same-store sales at Landry’s restaurants, which include Landry’s Seafood House, Rainforest Café, Chart House and Saltgrass Steak House, fell 2 percent in the quarter.