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Media Center
| Economic Review, Economy
The economic downturn brought on by the coronavirus pandemic has officially been declared a recession, but NRF Chief Economist Jack Kleinhenz says the key question is how long it will last.
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NRF welcomed a ruling by the U.K. Supreme Court that the way Visa and MasterCard set “swipe” fees charged to merchants to process credit card transactions is a violation of European Union antitrust laws.
| Workforce
NRF welcomed the U.S. Supreme Court's ruling in favor of the Deferred Action for Childhood Arrivals program, saying it "recognizes that these young people are law-abiding, tax-paying Americans who have never known adult life anywhere else."
| Economy, Retail Sales
Retail sales rose dramatically in May as retailers and other businesses closed by the coronavirus pandemic began to reopen, but remained well below spending levels seen during the same period a year ago, the National Retail Federation said today.
| Port Tracker
The impact of COVID-19 at major U.S. retail container ports appears to be easing slightly, with projected imports remaining below last year’s levels but not as much as previously forecast, according to the Global Port Tracker report from NRF and Hackett Associates.
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Hal Lawton, president and CEO of Tractor Supply Company, and Anish Melwani, chairman and CEO of LVMH Moët Hennessy Louis Vuitton Inc. joined the NRF Board of Directors.
| Economy, Economic Review
While the reopening of businesses shut down by the coronavirus pandemic is a significant step forward, NRF Chief Economist Jack Kleinhenz says it is too soon to say how quickly or smoothly the nation’s economy will recover.
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President and CEO Matthew Shay comments on incidents involving retail stores across the country following the death of George Floyd in Minneapolis.
| Economy
NRF welcomed House action on legislation that would give employers more time and flexibility to use Paycheck Protection Program money aimed at helping small businesses survive the coronavirus pandemic.
| Economy
NRF welcomed the introduction of the Pandemic Risk Insurance Act, which would establish a federal program to help businesses obtain insurance coverage for pandemics modeled on a system for terrorism insurance established following 9/11.