WASHINGTON -- The National Retail Federation issued the following statement from President and CEO Matthew Shay in response to the U.S. Census Bureau's release of April retail sales data.
"These retail sales numbers are not a surprise given the current state of affairs. The vast majority of retail stores have been closed, we are in the midst of historic unemployment, and when it comes to personal finances, discretionary spending takes a back seat to essentials. Prior to this pandemic, retail was setting records in year-over-year growth, employment and investment. It is a resilient industry serving a smart consumer, and despite today's report, we know it will be leading our nation's economic recovery as this crisis recedes."
About NRF
The National Retail Federation, the world's largest retail trade association, passionately advocates for the people, brands, policies and ideas that help retail thrive. From its headquarters in Washington, D.C., NRF empowers the industry that powers the economy. Retail is the nation's largest private-sector employer, contributing $3.9 trillion to annual GDP and supporting one in four U.S. jobs -- 52 million working Americans. For over a century, NRF has been a voice for every retailer and every retail job, educating, inspiring and communicating the powerful impact retail has on local communities and global economies. NRF.com