NRF revises holiday outlook
September 20, 2001,
Washington — The National Retail Federation has revised its holiday forecasts in light of the terrorist attacks that took place last week in New York and the nation's capitol.
According to the NRF's forthcoming Retail Sales Outlook report, sales growth for GAF (general merchandise, apparel, furniture, home furnishings, electronics and appliance stores) for the fourth quarter has been amended to 2.2 percent, compared to the previously forecasted 4.0 percent. The NRF also said that it predicts 2001 holiday retail sales to increase 2.5 percent to 3.0 percent.
NRF members have noted that consumers are out shopping, though their purchases focus on the essentials.
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