The men are allegedly responsible for stealing millions in jewelry and other valuables in 43 burglaries in 25 towns across Massachusetts.
NRF Predicts Greater Retail Growth in 2018
The National Retail Federation upped its retail sales forecast for the year, but warned that tariffs could have a negative impact.
Washington—The National Retail Federation has revised its retail sales growth prediction for 2018, upping the number from a 3.8 -4.4 percent gain to an increase of 4.5 percent, minimum.
The NRF credited tax reform and positive economic conditions for the boost to its original year-over-year sales prediction. (The NRF’s figure does not take automobiles, gas stations or restaurants into account.)
Matthew Shay, president and CEO of the NRF, said in a media release: “Higher wages, gains in disposable income, a strong job market and record-high household net worth have all set the stage for very robust growth in the nation’s consumer-driven economy.
“Tax reform and economic stimulus have created jobs and put more money in consumers’ pockets, and retailers are seeing it in their bottom line. We knew this would be a good year, but the first half turned out to be even better than expected.”
So far, retail sales have increased 4.8 percent year-over-year in the first half of 2018 and are up 4.4 percent in the latest three-month average.
Earlier in the year, the NRF predicted that gross domestic product would increase 2.5 to 3 percent; now it says that the figure should fall at the higher end of that range.
The organization expressed concern, however, over recently imposed tariffs on steel, aluminum and goods imported from China.
While advocates of such policies believe that higher taxes on foreign imports will help bolster domestic industries, the NRF warned of the potential to negatively affect consumer confidence.
“We don’t want to see these economic gains derailed by protectionist trade policy,” Shay said. “With retailers ramping up imports and stocking their warehouses before most of the proposed tariffs will take effect, an immediate impact on prices on consumer goods is unlikely, but that won’t last for long.
“And just the mere talk of tariffs negatively impacts consumer and business confidence, leading to a decline in spending. It’s time to replace tariffs and talk of trade wars with diplomacy and policies that strengthen recent gains, not kill them.”
According to the NRF’s Global Port Tracker report, imports have reached record highs this summer, as retailers import what they can before tariffs are implemented.
While the NRF ultimately maintains an optimistic outlook for the year, NRF Chief Economist Jack Kleinhenz said that uncertainty surrounding the trade war and higher-than-expected inflation due in part to increased oil prices could make consumers “cautious” come this fall.
The Latest
“Horizon” invites individuals to explore the limitless possibilities that lie ahead, said the brand.
The jeweler credits its recent “Be Love” campaign and ongoing brand revamp for its 17 percent jump in sales.
Meet Ben Claus—grand prize winner of For the Love of Jewelers 2023 Fall Design Challenge.
The co-founder of Lewis Jewelers was also the longtime mayor of the city of Moore.
Elvis Presley gifted this circa 1967 gold and diamond watch to Dodie Marshall, his co-star in “Easy Come, Easy Go.”
With Ho Brothers, you can unlock your brand's true potential and offer customers the personalized jewelry experiences they desire.
May’s birthstone is beloved for its rich green hue and its versatility.
Jacqui Larsson joins Opsydia with nearly two decades of experience in the industry.
Last month in Dallas, David Walton pushed another jeweler, David Ettinger, who later died.
The “Tiffany Céleste” collection reimagines designer Jean Schlumberger’s interpretations of the universe.
The brand also created a 100-carat lab-grown diamond necklace in honor of its centennial.
Tim Schlick has been promoted from his previous position as COO.
It’s the second year for the event, slated to take place in October in Toronto.
Supplier Spotlight Sponsored by GIA
Sales will be paused while the relocation takes place over the next few months.
“SIS x MISA Denim and Diamonds” is a collaboration between the designer and celebrity stylist Misa Hylton.
The retailer is moving to a newly designed space in the same shopping center.
The necklace is featured in the brand’s “Rebel Heart” campaign starring Adam Levine and Behati Prinsloo.
The two organizations will host a joint event, “Converge,” in September 2025.
Big changes appear to be on the horizon for the diamond miner and its parent company, Anglo American.
Padis succeeds Lisa Bridge, marking the first time the organization has had two women board presidents in a row.
Jesse Cole, founder of Fans First Entertainment, shared the “five Es” of building a fan base during his AGS Conclave keynote.
The Royal Oak Perpetual Calendar "John Mayer" was celebrated at a star-studded party in LA last week.
The announcement came as the company reported a 23 percent drop in production in Q1.
The three-time Pro Bowler continues to partner with the retailer, donating to a Detroit nonprofit and giving watches to fans.