NRF survey says retail CEOs are optimistic

By Staff -- Home Textiles Today, 8/5/2004 12:00:00 AM

WASHINGTON — A short-lived sales slide in June wasn't enough to hamper the outlook of retail CEOs, according to the latest findings of the NRF Executive Opinion Survey, a monthly index by the National Retail Federation (NRF).

Seasonal weather, summer clearance sales and the beginning of back-to-school sales helped retailers bounce back last month, stated the NRF. The Retail Sector Performance Index (RSPI) for July moved up 9.5 points from the previous month to 58.

"Retailers aren't going to let one bad month affect their outlook for the rest of the year," said NRF President and CEO Tracy Mullin. "As expected, we saw a rebound in July as summer clearance sales picked up and the back-to-school season began."

Key survey indicators that read below normal in June, once again showed strength in July, according to the survey. Retail employment took an upswing posting a 10-point gain in July (56.7). Customer traffic (55) also helped boost the July outlook for retail CEOs, stated the NRF.