NRF forecasts moderate holiday retail growth

By Staff -- Home Textiles Today, 9/17/2002 2:49:00 PM

Washington — Citing consumers' cautious approach and a sluggish retail economy, the National Retail Federation is forecasting moderate holiday retail sales growth of 4.0 percent, down from last year's 5.6 percent gains and more in line with the 4.3 percent gains in the 2000 holiday season.

NRF defines holiday retail sales as sales in November and December for retail stores in the GAFS category, which is made up of general merchandise stores, clothing and clothing accessories stores, furniture and home furnishing stores, electronics and appliance stores, and sporting goods, hobby, book and music stores.