Media Center

NRF today said retailers plan to appeal a federal judge’s order dismissing a lawsuit seeking to have the Federal Reserve lower its cap on billions of dollars in “swipe” fees banks charge to process debit card transactions.

Retail sales showed a strong year-over-year gain in February, but the monthly pace slowed compared with January as inflation drove up prices and lingering effects of the COVID-19 omicron variant affected the supply chain, NRF said.

The National Retail Federation issued its annual forecast, anticipating that retail sales will grow between 6 percent and 8 percent to more than $4.86 trillion in 2022

NRF welcomed final passage of legislation requiring businesses that own or operate critical infrastructure to report cyberattacks to federal authorities, saying it will help protect resources ranging from the nation’s electrical grid to the availability of essential consumer products.

The National Retail Federation welcomed the final passage of the first major postal reform legislation approved by Congress in more than 15 years.

Imports at the nation’s major retail container ports are expected to be at near-record levels this spring and summer as consumer demand and supply chain challenges continue to result in congestion, according to the monthly Global Port Tracker report from NRF and Hackett Associates.

Inflation is at a 40-year high but isn’t hitting all consumers as hard as top-line numbers might suggest, NRF Chief Economist Jack Kleinhenz says. Nonetheless, consumer worries about rising prices could become self-fulfilling if workers demand higher wages to compensate and will play a role in the Federal Reserve’s efforts to bring inflation under control.

NRF has hired veteran technology policy expert Michael Lemon to manage its portfolio of e-commerce and related issues as vice president for legal affairs.

To avoid additional supply chain disruptions, the National Retail Federation is encouraging the International Longshore and Warehouse Union (ILWU) and the Pacific Maritime Association (PMA) to begin contract negotiations well before the June 30 contract expiration.

Retail sales powered through COVID-19’s omicron variant, inflation and other challenges to post strong increases in January, according to NRF.