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A favorable forecast provides tailwind to Q4 comps
In addition to all the various strategies Walmart has in place to restore same-store sales growth to its U.S. division. A major factor in its favor is that the size of the pie is expected to growth this year.
The National Retail Federation is out with its annual forecast, and according to the trade group, holiday sales are expected to increase 2.8% to $465.6 billion. While that growth is less than the 5.2% increase retailers experienced last year, it is slightly higher than the 10-year average holiday sales increase of 2.6%, according to NRF.
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J.C. Penney plans in-store holiday shops
New York City -- J.C. Penney is adding holiday shops on its main floor, the Associated Press reported.
The "Wrapt" shop concept will debut in the company’s Manhattan store this week. It will be rolled out to the chain’s stores nationwide on Oct. 24.
The in-store shops will carry about 300 items, with the majority exclusive to J.C. Penney, according to the report.