NRF Raises Holiday Sales Forecast
Washington, D.C., The National Retail Federation revised its holiday sales forecast upwards, the first time it has ever done so during the holiday season.
The NRF projected retail sales growth of 6% to $439.53 billion during the holiday season, up from the 5% growth it forecast on Sept. 21.
“Recent consumer spending has surpassed our expectations and we expect this momentum to continue through the holiday season,” NRF president and CEO Tracy Mullin said in a statement.
Jo-Ann Stores Splits Exec Roles
Hudson, Ohio, Jo-Ann Stores split the role of chairman and CEO within its organizational hierarchy. The company said the change would allow it to accelerate its ongoing strategic transformation while bringing sharper focus to the execution of the strategy and the management of day-to-day operations.
Under the new structure, Alan Rosskamm, currently chairman, president and CEO, will serve as executive chairman with primary responsibility for the strategic direction, vision and culture of the company. An immediate nationwide search will be launched to fill the new position of president and CEO.
RadioShack and Wal-Mart Lead Wireless Retail Pack
Port Washington, N.Y., According to a new report from The NPD Group, consumer satisfaction with the wireless retail shopping experience is low across the board, with only 24% of recent mobile-phone purchasers stating that they had an excellent or good experience. While NPD’s survey confirms that the vast majority of mobile phone and service purchases are made at carrier-owned stores, consumers who purchased from other types of stores, including mass merchants and electronics retailers, reported higher levels of satisfaction. RadioShack and Wal-Mart were the top two retailers in terms of overall shopping experience, and also ranked high in other metrics including helpful sales staff, variety and selection of wireless products, and store layout.