CIBJO organises session to discuss urgent issues

Discussion focuses on CIBJO's relationship with CRJP, Blue Book and gem labs

Post By : AFNS On 09 November 2005 12:00 AM
The National Retail Federation is the world’s largest retail trade association, with membership that comprises all retail formats and channels of distribution including department, specialty, discount, catalog, Internet, independent stores, chain restaurants, drug stores, and grocery stores as well as the industry’s key trading partners of retail goods and services. NRF represents an industry with more than 1.4 million US retail establishments, more than 23 million employees, about one in five American workers - and 2004 sales of $4.1 trillion.
August sales released by the US Commerce Department show that total retail sales (which include non-general merchandise categories such as autos, gasoline stations and restaurants) dipped 2.1% seasonally adjusted from July due to weak auto sales, and increased 9.5% unadjusted year-over-year. Gasoline sales, which NRF does not include in its calculation of retail industry sales, rose 31.3% unadjusted from last August. Though the US Commerce Department could not specifically quantify the influence of Hurricane Katrina, it said the impact would have been minimal because the affected area accounted for slightly more than 1% of total retail sales. Also, because Hurricane Katrina hit at the end of the month, any impact in August was small.
DESPITE rising gas prices, the National Retail Federation (NRF) reports that retail industry sales in the United States in August (which exclude automobiles, gas stations, and restaurants) rose a strong 7.9% unadjusted over last year and increased 0.5% seasonally adjusted from July. The gains, compared to a relatively weak August last year, were stronger than NRF had been expecting.
“Though gas prices are a concern, the August report is further proof that it is unwise to base retail sales projections on one economic indicator,” said NRF Chief Economist Rosalind Wells. “Retailers who were anxious about the upcoming holiday season may be breathing a little easier.”

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