News

Restoration Hardware Posts 3Q Loss

BY CSA STAFF

Corte Madera, Calif., Restoration Hardware reported a net loss of $4.2 million in the third quarter, vs. a $3.1 million net loss in the same period a year earlier. Net revenues grew 9% to $128.4 million, despite a comp-store sales decline of 2.1%.

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FINANCE

NRF Raises Holiday Sales Forecast

BY CSA STAFF

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.

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OPERATIONS

NRF Raises Holiday Sales Forecast

BY CSA STAFF

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.

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