NRF: Holiday Retail Sales Climb 4.1 Percent
January 12, 2012,
WASHINGTON-U.S. retail sales during the 2011 holiday season totaled $471.5 billion, up 4.1 percent, according to the National Retail Federation.
NRF said the growth rate surpassed its sales forecast calling for a 3.8 percent increase. "The right mix of strong promotions, lean inventories and an emphasis on value put retailers in the perfect position to end the year on a high note," said Matthew Shay, NRF's president and CEO.
NRF Chief Economist Jack Kleinhenz said, "Though we are seeing evidence that the economy still has a critical hold on consumers' purchase decisions, (the holiday) strength in spending could continue into 2012."