Events

Washington, D.C. – The National Retail Federation (NRF) expects holiday sales to increase 3.9% to $602.1 billion, up slightly from last year’s 3.5% increase. The forecast is higher than the 10-year average holiday sales growth of 3.3%.

The group noted, however, that its forecast hinges “on Congress and the Administration's actions" over the next 45 days as the government shutdown entered a third day

Washington, D.C. – The National Retail Federation’s Shop.org expects holiday sales to grow between 13%-15% from last holiday season to as much as $82 billion.

“Online and mobile continue to be a leading area of growth for retailers. In this economy savvy, cost-conscious consumers go to the web to do their research and get the best bang for their buck,” said NRF president and CEO Matthew Shay.

Montreal — Simon Property Group, SmartCentres and Calloway REIT hosted a groundbreaking ceremony on Oct. 2 to begin construction of Premium Outlets Montreal, the second Premium Outlet Center in Canada.

The National Retail Federation showed its Christmas spirit on Thursday by releasing a holiday forecast that calls for sales to increase 3.9% to $602 billion and assumes the President and Congress will be able to resolve their differences.

NRF’s forecasted growth rate of 3.9% is a solid figure and well above the 3.3% average growth rate of the past 10 years and ahead of last year’s 3.5% gain. In addition, the trade group’s Shop.org digital division forecast that online sales would grow between 13% and 15% to roughly $82 billion.

Shares of Burlington Stores surged more than 40% in their first day of trading as the company executed an initial public offering on Wednesday.

The retailer operates 503 stores primarily under the name Burlington Coat Factory and sold 13.3 million shares that were priced at $17, slightly above an earlier range of $14 to $16. The limited number of shares contributed to strong demand and at the open the stock price popped more than 40% and closed at $25.13.

Proceeds from the sale were estimated to total roughly $205 million which the company planned to use to repay debt.

Las Vegas — Miracle Mile Shops on the Las Vegas Strip has launched, a new leasing website that provides prospective tenants with detail about the 475,000-sq.-ft retail property surrounding Planet Hollywood Resort & Casino.

Live now, the website highlights the center’s sales per sq. ft. for current retail and dining operations, two live entertainment venues and 3,700 hotel rooms with 98% occupancy at the connected Planet Hollywood Resort & Casino and Hilton Grand Vacations Elara.

Rugged boot manufacturer Wolverine has opened a permanent store in New York's Nolita at 254 Elizabeth St. The company decided to give the retail space a try following its successful New York pop-up venture in fall 2012.

New York -- Help CSA determine the Most Innovative Retail Store of 2013 by voting for one of the five stores below. (For photos and info on the nominees, go to chainstoreage.com/multimedia.)