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NRF Predicts a Moderate Holiday Sales Increase

The National Retail Federation is projecting a 2.8% year-over-year gain in holiday sales this year. Last year, holiday sales rose 5.2%-exceeding most expectations.
     "The 2011 holiday season can be summed up in one word: average," NRF said in its press release.
Association president and ceo Matthew Shaw said the season will be characterized by heavy promotions and lean inventory.
     "While businesses remain concerned over the viability of the economic recovery, there is no doubt that the retail industry is in a better position this year to handle consumer uncertainty than it was in 2008 and 2009," he said.