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NRF forecasts tepid sales on slow economic growth
WASHINGTON — Retail industry sales (which exclude automobiles, gas stations, and restaurants) will increase 3.4%, down slightly from 4.2% in 2012 and 5.8% in 2011, according to the National Retail Federation’s 2013 economic forecast.
The lukewarm forecast, released Monday, comes on the heels of a holiday season that went head-to-head with Washington’s political wrangling over fiscal concerns, shifting consumers’ spending plans downward. In the end, holiday sales in 2012 grew 3.0%.
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Macy's realigns exec team on CAO's retirement
CINCINNATI — Macy's has assigned additional responsibilities to several of its executives following the retirement of Thomas Cole, chief administrative officer, who is leaving the company in May after 41 years of service.
Cole's responsibilities have been re-assigned as follows: