NRF Forecasts Annual Retail Sales to Grow Between 6 Percent and 8 Percent 
The National Retail Federation issued its annual forecast, anticipating that retail sales will grow between 6 percent and 8 percent to more than $4.86 trillion in 2022. The announcement was made during NRF’s annual State of Retail & the Consumer virtual event where retail industry leaders discussed the strength of the consumer economy and the future of retail. The 2022 figure compares with 14 percent annual growth rate in 2021, the highest growth rate in more than 20 years. This year’s sales forecast is notably above the 10-year, pre-pandemic growth rate of 3.7 percent. NRF anticipates strong job and wage growth and declining unemployment. The organization projects full-year GDP growth will be slower this year, around 3.5 percent, given the surge of inflation and tightening of monetary policy and less fiscal stimulus. Retail sales are expected to remain strong as the economy opens further in the coming months, but there is considerable uncertainty this year that NRF will continue to monitor closely. | More Information
 Firearm Retailer/Range Compliance Education
In 2022, NSSF®’s Firearm Retailer/Range Compliance Education will continue to offer FREE in-depth industry compliance training and insights for businesses operating within the firearms industry. NSSF®, the firearm industry trade association, is committed to helping your company improve operations, public safety and the overall health of the firearms industry, and education is a key component to our combined success. These monthly live sessions will focus on topics central to our industry including ATF inspection preparedness, Straw Purchase awareness, improving store security, OSHA lead & noise compliance and much more. | More Information
February another Record Month At The Port Of Los Angeles 
The Port of Los Angeles processed 857,764 Twenty-Foot Equivalent Units (TEUs) in February, a 7.3 percent increase compared to last year. It was the Port’s busiest February in its 115-year history and represents back-to-back record months to begin 2022. “The combined efforts of dockworkers, terminal operators and our waterfront partners have improved fluidity and productivity,” said Port of Los Angeles Executive Director Gene Seroka. “Since November, we’ve been able to increase the number of containers leaving our docks by 16 percent.” | More Information
February Retail Sales Rose Strongly Year-Over-Year While Monthly Pace Slowed Amid Inflation
Retail sales showed a strong year-over-year gain in February, but the monthly pace slowed compared with January as inflation drove up prices and lingering effects of the COVID-19 omicron variant affected the supply chain, the National Retail Federation said. The U.S. Census Bureau said overall retail sales in February were up 0.3 percent seasonally adjusted from January and up 17.6 percent year-over-year. That built on a monthly increase of 4.9 percent in January over December – more than a percentage point higher than the original estimate of 3.8 percent – and January’s 14 percent increase year-over-year. Despite occasional month-over-month declines, sales have grown year-over-year every month since June 2020, according to Census data. | More Information
Toy Association Alerts Members to New Supply Chain Challenges Emerging in  China
As The Toy Association continues to provide the latest updates and resources addressing the ongoing supply chain crisis, it is alerting members that new Chinese government-imposed lockdowns could cause further delays in supply chains in the coming months if the situation worsens. COVID-19 infection rates hit a two-year high in China last week leading to widespread lockdowns in major port cities − including the toy manufacturing hub of Shenzhen − as part of the country’s zero-COVID policy. While terminals are still operating normally for now, factories, warehouses, and distribution centers remain closed; trucking capacity is limited; and shippers are canceling cargo bookings in Shenzhen with freight being diverted to other ports, according to the latest reports. | More Information |
|
