Retail woes in NJ may finally be letting up this year, report says
New Jersey retail sales may see a boost in 2015, a new report suggests.
According to the New Jersey Retail Merchants Association, the state tends to closely follow the nation's lead, and a new report predicts a nationwide jump of 4.1 percent in retail sales compared to last year.
"There is optimism for 2015," said NJRMA President John Holub.
The National Retail Federation said 4.1 percent growth, if reached, would mark the biggest jump since 2011.
While any growth could be considered good news, Holub said retail forecasts and performance still have room for improvement.
"We are still far away from pre-recession sales levels, just like we're far away from pre-recession job numbers," he said. "While we're seeing growth, it is best to keep it in perspective; it is only incremental growth."
He suggested the "days of double-digit growth" are long gone for the industry.
NRF President and CEO Matthew Shay called on the government to start more of a spark for U.S. retailers.
"In order to see continued momentum we need a commitment from our leaders in Washington to pass legislation that will encourage investment, create jobs and set us on the path towards sustained, long-term economic growth," Shay said in a Feb. 12 press release.
The group recorded 4 percent growth in holiday sales for the 2014 season. Retail numbers do not apply to gas stations, restaurants and car dealers.