Badminton is set to receive the International Retailer of the Year Award, at a special ceremony to be held during the NRF’s Annual Convention taking place in New York, USA this week. The Award is given annually to an individual who has achieved international recognition for excellence in their native country.

The National Retail Federation is the world’s largest retail trade association, representing more than 100 American and international retail associations. The 2009 NRF convention and expo which kicks of today is expected to attract more than 18 000 retail executives and vendors from more than 50 countries.

Badminton will be honoured alongside Michael Jeffries, Chairman and CEO of Abercrombie & Fitch, who will receive the Gold Medal Award, which is given to individuals who have served the industry with distinction and achieved a reputation for excellence.

“Great leaders create great companies and we are thrilled to present Mr. Jeffries and Mr. Badminton with these awards,” said NRF President and CEO Tracy Mullin. “Retailers who succeed in carving out a place for themselves in a world where there is so much competition should be commended,” she added.

Badminton’s career with Pick n Pay Stores spans three decades, starting with a position as a trainee manager in 1979. Climbing his way up the ladder, Badminton was appointed CEO in March 2007.

The National Retail Federation is “extremely concerned that it does not do enough to immediately stimulate consumer spending or to preserve the tens of millions of jobs that consumer spending supports,” Steve Pfister, the group’s senior vice president, said in a statement on Thursday.

“With consumer spending representing two-thirds of GDP, it is difficult if not impossible to foresee an improvement to overall economic growth until consumers regain confidence and resume spending,” he said in comments that were also sent in a letter to U.S. senators.

The Senate is working to craft legislation for a roughly $800 billion plan promoted by President Barack Obama to stimulate the U.S. economy, which has been in a recession since 2007.

The NRF, which represents more than 1.6 million U.S. retail establishments, again called for three 10-day sales tax holidays this year — one in March, one in July and one in October.

The tax holidays, similar to ones adopted by U.S. states at various times of the year, would allow consumers to purchase most goods without paying sales taxes. Alcohol and tobacco would be excluded.

While states have had tax holidays in the past, the housing bust and subsequent recession have left gaping wholes in state budgets. Florida scrapped its sales tax holiday because of budget constraints.

The NRF estimates that its proposed tax holidays would save consumers about $20 billion, or $175 per family. The U.S. government would reimburse states for the lost revenue.

The proposal comes as the trade group forecasts a 2.5 percent drop in retail sales in the first half of 2009.

Source: Reuters

The retailer and its corporate partners, including KMart, have launched special holiday sections called “Christmas Lane” on their Web sites — sure to become a big hit with those early bird holiday shoppers who start to panic when Labor Day rolls around.

The company also has opened Christmas boutiques at hundreds of its stores, MyFOXNY.com reports , a business move that aims to court holiday customers earlier than ever and get them to take advantage of the company’s layaway offers.

The year-end holidays typically represent a giant chunk — as much as half — of retailers’ annual revenues, and every year, the start of the holiday shopping season seems to creep earlier and earlier.

Retailers suffered through a particularly weak season last year as the United States suffered through the recession. The National Retail Federation reported a dismal 2.8 percent drop in the 2008 holiday season compared to the same period a year earlier.

It remains to be seen whether the concept of Christmas shopping in July will persuade skittish consumers to open their wallets.

But even if they do decide to commit $199 to buying the GE “Energy Smart” spruce tree from KMart.com, they may be disappointed to find that particular product won’t be available until September.

Source: www.myfoxatlanta.com

According to a new report from the National Retail Federation (NRF), however, “shrinkage”  – the industry term for inventory loss due to shoplifting, employee theft, paperwork errors and supplier fraud – actually rose in 2010, to 1.58% of all retail sales, from 1.44% of all sales in 2009. In dollar terms, shrinkage cost U.S. retailers $37.1 billion in 2010, versus $33.5 billion in 2009, a 10.7% jump.

Consumers bear the brunt of this cost. “We need to be concerned,” says Richard Hollinger, a University of Florida criminologist who conducted the NRF-sponsored study. “We all pay for it. This theft amounts to an involuntary tax to compensate retailers for crimes that take place in their stores.”

So what’s causing the surge in stealing? First off, America still has a chronic unemployment problem, and as benefits run dry, people get more desperate. But Hollinger attributes a chunk of the worsening problem to more organized retail crime rings. “Shoplifting used to be an individual thing,” says Hollinger. “Now, groups are stealing in large quantities, and it’s a global enterprise.” According to another NRF survey, 94.5% of the 129 retail companies questioned say they have been victimized by organized retail crime over the past 12 months, the most in the survey’s seven-year history. Technology makes the trade more lucrative: criminals can lift items and easily move them on auction sites like EBay.

Law enforcement is keying in on the issue.  In Phoenix, for example, 36 people were arrested in February for their alleged participation in a retail crime operation. The name of the police effort: Operation Orange Crush.

America’s stores need more of these stings.