According to the National Retail Federation (NRF) and Hackett Associates’ monthly Global Port Tracker, import cargo volume at the nation’s major retail container ports is returning to normal levels as officials prepare to count votes on ratification of a new West Coast labor agreement that ended months of uncertainty.
Import cargo volume at the nation’s major retail container ports is expected to rise 8 percent this month over the same time last year as West Coast ports continue to recover from a backlog of cargo that built up before a tentative new labor agreement was signed, according to the monthly Global Port Tracker report released today by the National Retail Federation (NRF) and Hackett Associates.
According to the monthly Global Port Tracker report released today by the National Retail Federation (NRF) and Hackett Associates, import cargo volume at the nation’s major retail container ports is expected to rise an unusually high 16.9 percent this month over the same time last year as West Coast ports begin to dig out from a backlog of cargo, which built up during the just-concluded contract negotiations with dockworkers.
Multiple sources report that the International Longshore and Warehouse Union (ILWU) and the Pacific Maritime Association (PMA) have reached a tentative agreement on a new five-year labor contract, ending several months of back-ups and delays at 29 West Coast ports.
The deal was reached with the assistance of U.S. Secretary of Labor Tom Perez and Federal Mediation and Conciliation Service Deputy Director Scot Beckenbaugh, following more than nine months of talks. As reported by Bloomberg News this past Friday, talks had broken down this month over a union demand that it be able to fire arbitrators in workplace grievances. The two sides had reached terms over salaries, benefits, the right of union members to maintain and repair truck chassis used to haul shipping containers, and health care. [Read more...]
Following news that terminal vessel operations at west coast ports have been suspended, the National Retail Federation (NRF) called on the White House to intervene.
“The slowdowns need to end,” says NRF Vice President for Supply Chain Jonathan Gold. “It’s time for the White House to immediately engage in this critically important economic priority and force the two sides to remain at the negotiating table until a deal is done.”
Import cargo volume at the nation’s major retail container ports were expected to rise 10.1 percent this month over the same period last year, even as west coast ports came closer to a possible shutdown, according to the monthly Global Port Tracker released by the NRF and Hackett Associates.
Despite nine months of ongoing talks, the lack of a contract between the Pacific Maritime Association and the International Longshore and Warehouse Union, as well as other operational issues, has led to crisis-level congestion at the ports.
On Tuesday, the National Retail Federation (NRF) expressed disappointment at the U.S. Supreme Court for not reviewing an appellate court ruling on whether the Federal Reserve (Fed) set a 2011 cap on debit card swipe fees higher than the level sought by Congress in legislation passed the year before. [Read more...]
According to the National Retail Federation (NRF), December retail sales, which exclude automobiles, gas stations, and restaurants, decreased 0.9 percent seasonally adjusted month-to-month, and 4.6 percent unadjusted year-over-year. The significant drop in gasoline prices for the month of December brought down much of the month-to-month growth. [Read more...]
As reported by the National Retail Federation (NRF), roughly 87 million Americans visited stores on Black Friday. However, total spending for the long Thanksgiving weekend is projected to be down more than 10 percent from last year’s estimate.
According to an NRF survey released on Sunday, total spending for the four-day weekend is expected to reach $50.9 billion, a decrease of 11.3 percent from last year’s estimate of $57.4 billion. NRF data also estimates that 133.7 million shoppers will have visited stores this weekend, down 5 percent year-over-year and below the expected number of 140.1 million. The survey also estimates flat growth in online sales.
This data follows strong starts reported by some retailers for the Black Friday weekend. Both Wal-Mart Stores and Target Corp. began offering special Black Friday sales on Thanksgiving Day, beginning at 6 p.m. While neither Wal-Mart nor Target has reported specific sales figures, both claimed a high number of customers that shopped at stores as well as online. [Read more...]
This holiday season, gift card spending is set to top all previous records. According to the National Retail Federation (NRF)’s Gift Card Spending Survey, the average person buying gift cards will spend $172.74, up from $163.16 last year, with total spending expected to reach $31.74 billion. In an October NRF survey, 62 percent of shoppers said they would like to receive a gift card, making gift cards the most requested gift item for eight years in a row.
According to the survey, shoppers will spend more on average per card than they did last year, with total spending on gift cards increasing 83 percent since NRF began tracking consumers’ intentions to buy gift cards as holiday gifts in 2003.
The survey found adults 65 and up will spend the most on gift cards, with young adults between 18 to 24 years old spending the least, and men planning to spend significantly more than women ($180.81 versus $165.09, respectively).
Shoppers noted the ease of buying, the ability to allow recipients to select their own gifts, and sticking to holiday budgets as top reasons for choosing gift cards over traditional gifts. Gift cards for department stores, restaurants, and coffee shops are expected to be top choices this holiday season.
Import cargo volume at the nation’s major retail container ports is expected to slow down this month following record levels seen in September and October, as retailers rushed to bring merchandise into the country ahead of a possible shutdown of West Coast ports, according to the monthly Global Port Tracker report released today by the National Retail Federation (NRF) and Hackett Associates.
Import volume at U.S. ports covered by the Global Port Tracker report is expected to total 1.4 million containers this month, down from 1.59 million each in September and October, a number that broke the previous monthly high of 1.52 million set in August. Cargo volume has been well above average each month since spring as retailers have imported merchandise early in case of any disruption on the docks.
The 1.59 million twenty-foot equivalent units (TEU, or 20-foot cargo container) handled in September, the latest month for which after-the-fact numbers are available, was up 5.2 percent from August and 10.9 percent from September 2013. October was estimated at 1.59 million TEU, within about 3,000 containers of September’s level and up 11 percent from the same month last year.
The Toy Industry Association (TIA) is inviting members to participate in a teleconference with Gene Seroka, executive director of the Port of Los Angeles, to learn about what is being done to alleviate back-ups and delays at the port. The discussion is scheduled for November 13 at 1 p.m. ET. TIA members can contact Rebecca Mond, director of federal governmental affairs, at email@example.com for dial-in information.