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March 16, 2022

NRF expects US retail sales to exceed $4.86tn by end of year

The organisation forecasts retail sales in the country to remain 'strong' in the coming months.

The US National Retail Federation (NRF) has projected retail sales in the US to increase between 6% and 8% this year, which is higher than their pre-pandemic growth rate of 3.7%.

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Walmart: Going Beyond Company Disclosures

Walmart has rounded out its fiscal year with a strong set of numbers that show it has taken supply chain disruption, rising costs, heavy inflation, and various other problems in its stride. There is comfortable growth on both the top and bottom lines, which is extremely respectable given tough prior year comparatives. Walmart hiring is slowing down as compared to hiring in the months of April and March in 2022. Walmart posted close to 40,000 vacancies in March and 30,000 in April, which has gone below 10,000 in June 2022. Walmart Company Filings has most of the mentions related to the ESG and COVID-19 themes in 2021. ESG has more than 300 mentions in the company’s 2021 filings which indicates the rising focus on ESG-related issues. Our report on Walmart: Going Beyond Company Disclosures, demonstrates GlobalData Explorer’s ability to:  
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Retail sales in the country, excluding sales at automobile dealers, gasoline stations and restaurants, are forecast at between $4.86tn and $4.95tn for the year.

With the ongoing, widespread adoption of e-commerce, the NRF expects non-store and online sales to grow by between 11% and 13% to a range of $1.17tn to $1.19tn.

Last year, retail sales in the US grew by 14%, which was the highest growth rate in more than 20 years.

NRF president and CEO Matthew Shay said: “The NRF expects retail sales to increase in 2022, as consumers are ready to spend and have the resources to do so.

“We should see durable growth this year given consumer confidence to continue this expansion, notwithstanding risks related to inflation, Covid-19 and geopolitical threats.”

The NRF has also forecast strong job and wage growth for the country this year, as well as declining unemployment.

Despite this, full-year gross domestic product (GDP) growth is expected to ease at around 3.5% due to the increase in inflation and tightening of monetary policy and less fiscal stimulus.

NRF chief economist Jack Kleinhenz said: “In addition to inflation, the forces impacting the economy include Covid-19 impacts, international tensions and policy variability.”

The NRF announced the forecast during its annual State of Retail and the Consumer virtual event.

The trade organisation expects US retail sales to remain ‘strong’ over the coming months as the economy reopens following Covid-19 lockdown measures.

Last month, the NRF reported that overall retail sales in the US for January had grown by 3.8% seasonally adjusted from December and were up by 13% year-over-year (YoY).

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Walmart: Going Beyond Company Disclosures

Walmart has rounded out its fiscal year with a strong set of numbers that show it has taken supply chain disruption, rising costs, heavy inflation, and various other problems in its stride. There is comfortable growth on both the top and bottom lines, which is extremely respectable given tough prior year comparatives. Walmart hiring is slowing down as compared to hiring in the months of April and March in 2022. Walmart posted close to 40,000 vacancies in March and 30,000 in April, which has gone below 10,000 in June 2022. Walmart Company Filings has most of the mentions related to the ESG and COVID-19 themes in 2021. ESG has more than 300 mentions in the company’s 2021 filings which indicates the rising focus on ESG-related issues. Our report on Walmart: Going Beyond Company Disclosures, demonstrates GlobalData Explorer’s ability to:  
  • Track and monitor a company’s movements through alternative indicators to gain insights into the strategy before it is disclosed by the company
  • Gain insight into a company’s capital deployment strategy, by assessing historical deal volumes and specific transactions executed by the company, in addition to identifying sectors of focus
  • Go beyond basic financial information, to access key industry-relevant indicators for a company and how these have progressed over time
Don’t miss out on key market insights that can help optimize your next investment – read the report now.
by GlobalData
Enter your details here to receive your free Report.