Tracy Mullin

The National Retail Federation announced Tuesday that it has named Matt Shay its new president and CEO, replacing the retiring Tracy Mullin. Shay comes to NRF from the International Franchise Association.

The National Retail Federation Tuesday released its holiday forecast, predicting a 1 percent drop in holiday sales from 2008. NRF predicted a $437.6 billion figure for the holidays.

A day after the National Retail Federation announced that it will merger with the Retail Industry Leaders Association, the NRF's president, Tracy Mullin, announced that she will step down at the end of this year.

Retailers looking at sluggish sales numbers have one silver lining to look at: many Americans have not yet begun their holiday shopping, while the average shopper is less than halfway finished.

Despite all of the worries related to today's economy, retailers actually reported a small increase over the year before in sales on the weekend that began with Black Friday.

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