NRF: Retail sales in 2012 forecasted behind 2011
New York City — A report released Monday by the National Retail Federation said that retail industry sales growth for 2012 is forecasted at 3.4%, a pace slower than 2011’s 4.7% growth.
Still, said NRF, the retail industry will grow at a rate faster than many other industries.
“Over the last 18 months, retailers have been on the forefront of the economic recovery – creating jobs, encouraging consumer spending, and investing in America,” said NRF president and CEO Matthew Shay. “Our 2012 forecast is a vote of confidence in the retail industry and our ability to succeed even in a challenging economy. Retailers have played a key role in driving growth, but to continue this momentum we need Washington to act on proposals that will spur job creation and unleash the power of the private sector.”
Shay will announce NRF’s forecast to a record 24,000 retailers and their partners at NRF’s 101st Annual Convention and Expo on Monday in New York. During his remarks, Shay will discuss how continued growth in the retail industry will result in additional jobs, greater innovation and increased consumer value. But he will warn that the private sector can’t do it alone and Washington must take steps to support growth.
Though retailers ended last year on a strong note with holiday sales rising 4.1% over 2010, many factors will continue to influence the expected slowdown in consumer spending, but none remain more cumbersome than the stalled unemployment rate and lack of newly created jobs, said NRF.
Ralcorp, Post directors revealed
ST. LOUIS — The boards of directors for Ralcorp Holdings’ Ralcorp and Post divisions were unveiled Friday by the company.
As previously reported, Ralcorp said its Post cereal business will be spun off to become its own entity.
J. Patrick Mulcahy will lead Ralcorp Holdings’ board as chairman. The board also will include Benjamin Ola. Akande, Bill Armstrong, Jonathan Baum, Barry Beracha, Kevin Hunt, David Kemper, Patrick Moore and David Wenzel. Meanwhile, William Stiritz, Ralcorp’s current board chairman, will serve as board chairman for Post. Additional members include David Banks, Terence Block, Jay Brown, Edwin Callison, Gregory Curl, William Danforth, Robert Grote and David Skarie.
"We are very excited to have such an experienced and talented group of individuals to lead Ralcorp and Post as each company moves forward independently," Stiritz said. "These directors have proven track records of success, and we are confident that their leadership and expertise, along with the commitment and passion they share for the businesses, will result in significant value for our shareholders."
Target merchants get a new toy
Smarter decision-making is a goal all retailers have, and now Target should be in an even better position to execute on that objective following a major agreement with industry leading data warehousing and analytics provider Teradata.
Teradata announced the major customer win just days ahead of the technology heavy National Retail Federation conference currently underway in New York. Teradata said it would implement its active data warehouse at Target, thereby enabling the retailer to effectively manage complex user queries on large data volumes in a mixed workload environment across the entire company. The bottom line for companies that use Teradata systems is they gain high performance analytical capabilities that more quickly provide detailed insight which in turn speed decision-making and produce business value.
“It’s an honor to be selected by Target Corporation for our expert retail consulting expertise and database technology to support and deliver on Target’s (business intelligence) and analytic vision,” said Gene Sullivan, retail VP with Teradata. “Together with Target we will enable the best possible use of detailed data to drive the best possible decision-making – and positively ensure deeper business visibility and understanding for effectively serving millions of Target guests.”
According to Teradata, it is the world’s leading analytic data solutions company focused on integrated data warehousing, big data analytics and business applications.