June 25, 2008 —MSNBC.com, "Economists worrying about holiday shopping"
“We are concerned about spending in the second half,” agreed Frank Badillo, senior retail economist at consulting company Retail Forward.  He noted that excluding the benefits from rebate checks, he expects sales to be weaker in coming months.  If job conditions worsen, he said, the total holiday sales growth could be below last year’s level, which according to the National Retail Federation was the weakest growth since 2002.

June 11, 2008 —Forbes.com, "A Hot Streak for Retailers"
"When you strip out the effect of the tax rebate, the trend is still to cut back on spending," says Frank Badillo, an economist with TNS Retail Forward. While the bulk of shoppers answering various surveys in recent months said they planned to use their stimulus checks to pay down debt or beef up their savings accounts, Badillo thinks the program's sheer size will make it effective, at least in the short term. If consumers put 40% of their stimulus checks to work in the economy, as Retail Forward's own survey estimated, that translates into roughly $40 billion in spending.

May 22, 2008 —WWD, "Catching Customers on the Downturn"
The luxury and higher-end brands are going to find the next few months to be difficult because the aspirational customer now thinks twice about purchasing up, said Mary Brett Whitfield, senior vice president with retail consultancy TNS Retail Forward in Columbus, Ohio.

May 18, 2008 —Chicago Tribune, "Shopping recession hit Chicago, area retail in '07"
Nationwide, department store sales fell 2.3 percent in 2007, according to Ohio-based market research firm TNS Retail Forward based on Commerce Department data. TNS Retail Forward forecasts the decline continuing through at least 2011.

May 13, 2008 —Associated Press, "Wal-Mart stays cautious despite 6.9 pct profit rise"
Many elements have to fall into place for the economy to mount a recovery, said Frank Badillo, vice president and senior retail economist with management consultant TNS Retail Forward. "We expect shoppers to remain in belt-tightening mode for pretty much the rest of the year," Badillo said, noting that rebate checks will generate a little more spending. A sustained recovery would need loosened credit and lower interest rates to spur the real estate market. "Purchases related to home buying should be the key driver in a rebound," he said. Likewise, the point at which employers start hiring again and the optimism level of consumers will also play roles. "There really are a lot of variables," Badillo said.

April 30, 2008 —Financial Times, "Race on for slice of US tax rebate billions"
Frank Badillo, chief economist at TNS Retail Forward, estimated that the extra $42bn would boost retail sales by about 1.5 percentage points in the current second quarter.  "From the past, the discount store should benefit more than other retailers, just because the rebates are skewed towards low to middle-income households, and they are the ones most likely to spend rather than to save or put the money to other non-retail uses." 

April 11, 2008 —Wall Street Journal, "Gap Drop Worst in Dismal March"
Gap Inc. reported an 18% decline in March same-store sales, one of the worst showings in a dismal month that saw customers staying away from malls and defecting to discount chains for necessities. Difficult comparisons with last year`s relatively strong performance contributed to soft results. Overall, a sales-weighted composite of 40 retail chains decreased 0.1% in March, the first monthly decline since April 2007, said Frank Badillo, senior economist at Columbus, Ohio-based consulting firm TNS Retail Forward.

April 11, 2008 —The Washington Times, "Shoppers flock to discounts"
"The reality is that shoppers are stepping up their plans to cut back spending," said Frank Badillo, senior economist at TNS Retail Forward, a Columbus, Ohio, research group. A TNS Retail Forward survey asked shoppers how they plan to spend money in March compared with the previous March. Twenty percent said they plan to spend "much less." When asked the same question in February, only 9 percent said that. The Washington Times

April 7, 2008 —USA Today, "British Grocery Chain Hits America with Fresh Ideas"
“If it’s not performing to expectations, it will make all the changes to assure that it does,” says Jennifer Halterman, senior consultant at TNS Retail Forward, which projects Fresh & Easy will have U.S. sales of $10 billion by 2015, putting it in the top 10 grocers.

March 17, 2008 —CNN Money.com, "China: Shoppers' buffer vs. weak dollar"
"A weak dollar is a factor for American consumers to the extent that it feeds inflation in consumer prices," said Frank Badillo, senior retail economist with consulting firm TNS Retail Forward. Badillo said consumers are getting a break - for now. "Longer term, unless the economy and the dollar improve, inflation will spread to electronics, toys and clothes," he said. "Higher prices will be passed on to consumers."

March 17, 2008 —Supermarket News, "New Data Illuminates Economy's Impact on Food Retailing"
The consultancy TNS Retail Forward, in a February survey, found that 51% of consumers are not purchasing food items that are "just too expensive," and 39% are increasing their use of coupons for food purchases.

March 7, 2008 —The Wall Street Journal, "Retailers See Some Relief; View Still Dim"
"These month-to-month blips don't change the trend," said Frank Badillo, senior economist for TNS Retail Forward, a consulting firm based in Columbus, Ohio. "Shoppers are intent on slowing their spending, and that will continue in the months ahead."

March 7, 2008 —The Wall Street Journal, "Retailers See Some Relief; View Still Dim"
"These month-to-month blips don't change the trend," said Frank Badillo, senior economist for TNS Retail Forward, a consulting firm based in Columbus, Ohio. "Shoppers are intent on slowing their spending, and that will continue in the months ahead."

March 6, 2008 —The Wall Street Journal, "Macy's Joins Trend of Retailers Ending Monthly Reports"
"Increasingly the thought is that reporting monthly sales results makes retailers susceptible to managing on a month-to-month basis," says Frank Badillo, senior retail economist at Retail Forward. But because some big chains no longer report the data, the figures don't accurately reflect the retail landscape; there are now big gaps in the home-improvement category and apparel retailers and discounters are overrepresented, he points out.

February 29, 2008 —WBNS 10 TV, "Furniture Stores Failing"
"It's harder for a small local retailer to compete with the economies that a Wal-Mart or Target have" said Nick McCoy, Senior Manager of consulting firm TNS Retail Forward, "but then you add on top of that the housing market slump and it's been a nightmare for furniture retailers."
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February 29, 2008 —Washington Post, "Victoria's Revelation"
But competition has increased, with high-end designers, specialty retailers and discounters expanding their offerings, said Mary Brett Whitfield, senior vice president of consulting firm TNS Retail Forward. "Eventually, all successful strategies fail if they`re not monitored and not tweaked appropriately."

February 21, 2008 —Business Week, "Trader Joe's Recipe for Success"
Sandy Skrovan, who heads food store research at the consulting firm TNS Retail Forward, figures Trader Joe's generates sales in the neighborhood of $1,300 per square foot, double the supermarket industry average. "When you think Trader Joe's you think of innovative products," she says. "That's what drives their model—return patronage and quality products at a fair price."

February 19, 2008 —The Chicago Tribune, "Stores trim stocks as customers cut back—Weakest performance expected since 1991"
"We are looking at recession levels of spending for consumers," said Frank Badillo, vice president and senior retail economist at consulting company Retail Forward. "It's clearly a difficult environment for retailers that is going to continue for the better part of the year."

February 8, 2008 —Washington Times, "January Retail Worst in 30 Years "
Just half of last year's holiday gift cards have been spent, according to a survey by TNS Retail Forward, a Columbus, Ohio, retail research group.  Some gift cards, particularly those tied to specific stores, haven't been used at all.  "Retailers see that shoppers are holding onto the gift cards longer this year and some are planning to spend some of their value for Valentine's Day," said Ayuna Kidder, a TNS economist.

January 18, 2008 —The Wall Street Journal, "Retailers Sink Into the Doldrums"
It will be a discouraging first half of the year, economists warn.  “It will feel like a recession to many people even if we technically avoid one,” says Frank Badillo, senior economist at market researcher TNS Retail Forward. 

January 11, 2008 —WWD, "Bad and Getting Worse:  Retailer Worries Spiral As Comp Sales Stumble"
“The retail numbers leave little doubt that shoppers are in belt-tightening mode.  No part of retail spending is immune right now.  From stores to online retailers and lower-income to higher-income shoppers, there are signs of weakness that will persist into 2008,” said Frank Badillo, senior economist and director of the Retail Forward KnowledgeBase™.

January 11, 2008 —USA Today, "Holiday sales disappoint retailers"
Overall retail sales last month for the 50 retailers reporting their numbers Thursday rose only 0.2% from December 2006, said consulting and market research firm TNS Retail Forward. "The retail numbers leave little doubt that shoppers are in belt-tightening mode," said Retail Forward senior economist Frank Badillo. "No part of retail spending is immune right now."

December 24, 2007 —The Wall Street Journal, "What Makes Tesco, Kroger More Than Just Rivals?"
TNS Retail Forward, a unit of British market research firm Taylor Nelson Sofres PLC, estimates that Fresh & Easy could have 500 stores and $4 billion in sales by 2011.  By 2015, TNS says, Fresh & Easy could be one of the 10 biggest supermarket retailers in the U.S.

December 15 , 2007 —The New York Times, "Small Shops See Smallness as Their Big Selling Point"
Small retailers also have an advantage over bigger competitors in other areas, particularly customer service.  This year, said Mandy Putnam, vice president of TNS Retail Forward, a retail market research firm in Columbus, Ohio, “Stores are upping the ante with more personalized customer service, particularly if they’ve depended on that for sales in the past.”

December 4 , 2007 —Fortune, "Tesco needs a fresh start in the U.S. "
Fifteen Fresh & Easy stores are open already, with another dozen or so slated to launch in Southern California, Phoenix, and Las Vegas before Christmas. By February 2009, Tesco plans to have 200 stores open. And by 2011, Fresh & Easy could easily have $4 billion in sales from 500 stores, predicts analysts at consultancy TNS Retail Forward.

November 23, 2007 —The Wall Street Journal Online, "Smart Shoppers Go Retail"
Last month, TNS Retail Forward, a consulting firm, projected about 3% sales growth this season over last.  That would be the weakest rise since 2002, the economic hangover from the tech-stock bubble’s collapse, when holiday sales rose just 1.3%.

November 19, 2007 —CNBC.com, "Holidays May Be Last Stand For Tapped-Out Consumer"
“Retailers understand that store traffic is likely to be down this holiday compared with prior years and that they have to pull out all the stops to make sure that limited traffic is coming to their stores instead of others,” said Frank Badillo, senior economist for the consulting firm TNS Retail Forward.

November 19, 2007 —Reuters, "Retailers hope shoppers are ready to spend"
In recent months, consumers have slowed the amount of debt they are taking on.  This may be an important indicator that the consumers are beginning to try to live within their means, said Frank Badillo, a senior retail economist at TNS Retail Forward, a Columbus, Ohio consulting firm.  The latest TNS Retail Forward holiday survey showed lower-income consumers were particularly cautious about the holiday season, with more than one-third planning to spend less on gifts than they did last year.  Even high-income consumers plan to show restraint, with about one-quarter planning to reduce their holiday spending.

October 30, 2007 —USA Today, "Oil price record comes at worst time for airlines"
Retail analysts were already predicting a lackluster holiday season, given the slowing economy.  Consulting firm TNS Retail Forward last month predicted holiday sales will grow at the slowest pace in five years this season, as consumers feel the pinch of a credit crunch and slowing housing market.  TNS Retail Forward chief economist Frank Badillo says consumers are still spending a smaller fraction of their income on gasoline today than in 1981, which will cushion the blow a bit.  But he adds that high gasoline prices are intensifying a growing split between well-off shoppers and less-affluent consumers, who are more likely to feel the pinch of rising gasoline prices.

October 3 , 2007 —BusinessWeek, "Holiday TV pricing is key for retailers "
Research firm TNS Retail Forward forecasts 1.5 percent growth in sales at consumer electronics and appliance stores in the fourth quarter, compared with 3.3 percent growth expected for retail overall.  Frank Badillo, TNS Retail Forward’s senior economist, is a bit pessimistic, saying that recent pricing trends at consumer electronics stores suggest that price-cutting by the fourth-quarter holiday will be even steeper than a year ago.  “Combine that with softer demand and the result will be much weaker growth at consumer electronics stores,” he said.

September20, 2007 —The Wall Street Journal ,"Retailers Expect Weak Holiday Growth"
The NRF forecast follows a similarly gloomy one issued this week by TNS Retail Forward, a Columbus, Ohio, consulting company that predicted an increase of just 3.3% in fourth-quarter sales this year.  Home-improvement chains face the most risk for weaker-than-expected results, according to senior economist Frank Badillo.

September 7, 2007 —Financial Times ,"Sales boost for US Retailers "
Frank Badillo, senior economist at TNS Retail Forward, said that while “shoppers were not spooked” by fears of a credit crunch, “that only means that the fallout for households will hit home more gradually in the coming months.” 

September 7 , 2007 —USA Today ,"Back to school sales rose smartly "
Despite gloom in the credit, housing and stock markets last month, back-to-school sales were strong, especially at trendy teen stores. But proving that the teen market can be fickle, Hot Topic didn't do well: Same-store sales fell 1.1%. "You're in one minute and out the next," says Mandy Putnam of TNS Retail Forward. Putnam, whose company studied the shopping habits of 20 kids ages 16 to 18 during August, says: "We saw a lot of practicality."

August 22, 2007 —MediaPost's Marketing Daily ,"Lowe's Lowers Outlook As Gloom of Housing Market Deepens "
"Consumers are making sure they keep their homes as functional as possible," says Nick McCoy, a senior consultant at TNS Retail Forward, in Columbus, Ohio. "So they're still doing smaller spruce-up jobs. But they are very reluctant to undertake the major projects that they might have done in anticipation of selling."

August 10 , 2007 —BusinessWeek ,"How Fickle Teens Flummox Retailers "
"The major players have been very good at defining their unique look and portraying a certain lifestyle," says Mary Brett Whitfield, senior vice-president and apparel analyst at TNS Retail Forward, a retail research firm. "But trends change and teens look more narrowly for stores that resonate with them."

August 10, 2007 —DNR ,"Teen Retailers Have Tough July "
“Shoppers might feel some relief from high gasoline prices, but it’s unlikely to generate much of a bounce in back-to-school spending and beyond.  The looming credit crunch is among the forces likely to dampen spending going forward,” said Frank Badillo, senior economist for TNS Retail Forward and director of the Retail Forward KnowledgeBase™. 

June 20, 2007 —The Wall Street Journal ,"Retailers’ Panty Raid On Victoria’s Secret "
But adding snazzier designs and creating private-label lines is not without its risks, notes Kelly Tackett, senior consultant at TNS Retail Forward, a Columbus-based retail consulting firm.  “If you don’t do it right, you’re stuck with a lot of excessive merchandise that you have to mark down,” she says.

June 6, 2007 —The Wall Street Journal ,"Not Copying Wal-Mart Pays Off for Grocers "
Last year, sales at supermarkets open at least a year rose 4%, the biggest increase in five years, according to retail consultants TNS Retail Forward.  While the gains are still modest, the supermarkets got more good news last week when Wal-Mart announced it would cut back on new supercenter openings for the next several years.  Supermarkets “have come to the understanding they can’t put cookie-cutter stores out there anymore,” says Sandra J. Skrovan, a senior vice president at TNS Retail Forward.

May 22 , 2007 —Convenience Store News, "Retailing Undergoing Major Changes
by 2015 "
Retailers in the year 2015 will have to be more locally relevant, operating a portfolio of consumer-centric store formats, selling on the Internet and through catalogs, and increasingly focused on services that appeal to the aging baby boom generation.  Those are some of the predictions made by international management consulting and market research firm TNS Retail Forward at its annual Strategic Outlook Conference called "Retailing 2015: New Frontiers," held in midtown Manhattan yesterday.

May 10 , 2007 —Investor's Business Daily , "Retailers' April Sales Down Vs. Year Ago, Well Off Forecasts "
"The April sales numbers partly reflect diverging prospects between upper-income households and lower-income households," said Frank Badillo, senior economist at TNS Retail Forward. "Lower-income households are really being hurt by job losses and upper-income households are benefiting from job gains."

April 20, 2007 —The Wall Street Journal , "Park Avenue Classic Or Soho Trendy?"
With its results improving, “the challenge will be for Saks to distinguish itself from Nordstrom, Neiman Marcus and Bloomingdale’s, particularly as Bloomingdale’s moves upscale,” says Kelly Tackett, a senior consultant at TNS Retail Forward, an independent research firm.  

April 12 , 2007 — Investor’s Business Daily , "March Retail Sales Strong On Easter; April Will Be Weak"
“As long as the job market stays strong and consumers feel secure in their jobs, that will sustain some level of consumer spending even if fuel prices are going up and if the mortgage market is souring,” said Frank Badillo, senior economist at TNS Retail Forward.  Low unemployment and continued income gains should sustain a healthy, if not strong, spending pace, he said.

March 21 , 2007 — BusinessWeek.com , "Minnesota’s Mall of America expanding"
The expansion plans reflect the trend of large malls emphasizing restaurants and hotels rather than more stores, said Mary Brett Whitfield, a senior vice president at TNS Retail Forward.  Shoppers are “increasingly thinking about experience as opposed to buying more stuff,” she said.

March 8 , 2007 — The Associated Press , "Cold February puts chill on spring fashions"
“People don’t necessarily feel less wealthy because the market falls all of a sudden or their housing value is lower,” but if those factors “persist over the next six months it may affect long-term behavior,” according to Frank Badillo, vice president and senior retail economist at Retail Forward, a consulting company.

March 5 , 2007 — Fortune, and CNNMoney.com, "On Target:  Fashion, finance and philanthropy"
And just last week, Target announced fourth-quarter net income, which increased by 19 percent to $1.12 billion, while revenues jumped 16 percent to $19.7 billion.  Consultant Retail Forward thinks the company will boost annual revenues to $95 billion by 2010.

February 27 , 2007 — Chicago Tribune , "Pop-up stores aim to create a buzz in fleeting existence"
"How do you reach consumers when there are hundreds of TV channels and magazines, and people are editing out commercials?  This is a chance for [marketers] to go directly to the consumer," said Mary Brett Whitfield, senior vice president at Retail Forward, a Columbus, Ohio-based retail research firm."

February 23 , 2007 — MarketWatch , "Bigger Whole Foods still faces tough landscape"
"Whole Foods wasn't used to having the whole realm of competition that's flooded the market lately.  It's become increasingly crowded," said Sandy Skrovan, senior vice president with consultants Retail Forward.  "Those big chains have so much scale behind them, they can bring a lot of that product to the market at lower prices than Whole Foods."

February 23 , 2007 — MediaPost , "Women, Retailers and Fashion:  Yes, Size Does Matter "
"Inconsistent sizing across brands and retailers compounds shopper difficulty and is forcing a large share of women to shop multiple departments or size ranges in order to find clothes that fit and flatter," report a Retail Forward survey released yesterday.  "Perceptions of positive changes in fit, as well as styhle, quality and value, are lower today than in prior years," says Kelly Tackett, a senior consultant with Retail Forward.  The change is most pronounced among women 35-plus.  "Boomer women are just not getting their needs met at retail," she says.  "Retailers just need to listen to women."

February 12 , 2007 — Ft. Worth Business Press , "In Wal-Mart’s shadow Minyard diversifies with Carnival brand in super-competitive supermarket sector "
Wal-Mart, with both its Supercenter stores and its Neighborhood Markets, has become a force to be reckoned with in the grocery market nationwide.  Just a blip on the landscape a few years ago, the Bentonville, Ark., chain jumped ahead of area competitors in 2004 and continues to do so nationally, according to Sandra Skrovan, an analyst with Retail Forward, a consulting group based in Columbus, Ohio. “Wal-Mart Supercenter is the primary grocery store for a fifth of all households today,” she said in a recent report.  “This is up from 16.5 percent two years ago.”

February 9 , 2007 — WWD , "Department Store Comps Shine "
According to Retail Forward, January same-store sales growth expanded 4 percent.  That was down from year-ago results of a 5.1 percent gain but is an improvement over last month’s 3.2 percent growth.  “The underlying numbers suggest a strong start to the year.  Shoppers were out in force as a result of gift cards, the letup in gas prices and favorable weather,” said Frank Badillo, director of the Retail Forward KnowledgeBase™ and senior economist for the company.

February 9 , 2007 — The Washington Times , "Gift cards, cold spell spur January sales "
“The underlying numbers suggest a strong start to the year,” said Frank Badillo, senior economist at Retail Forward, a Columbus, Ohio research firm.

February 8 , 2007 — Reuters, "UPDATE 2-Cold weather lifts U.S. retailers’ January sales"
Shoppers were out in force as a result of gift cards, the let-up in gas prices and favorable weather,” said Frank Badillo, senior economist at Retail Forward.

January 26 , 2007 — Bloomberg.com, "Williams-Sonoma, Home Depot Reel as Furnishing Cools (Update 3)"
Thirty-two percent of U.S. consumers spent more on home furnishings in 2006, less than the 38 percent in 2005, according to a survey released Jan. 19 by Columbus, Ohio-based Retail Forward Inc., a market research and consulting firm. 

January 5 , 2007 — The Washington Post, "Stores Report Holiday Season of Letdowns"
“The sales numbers were often hurt by the step-up in promotions as the holiday progressed,” said Frank Badillo, senior economist at Retail Forward, a consulting firm. “Retailers sold a lot of product, but it often wasn’t at the price points they hoped for.”

January 5 , 2007 — The Chicago Tribune, "Holidays Sales Fail to Dazzle"
“Discounting didn’t result in a big jump in demand,” said Frank Badillo, senior economist at Retail Forward Inc., a Columbus, Ohio-based retail consulting and market research firm. “Without a surge in sales, we’re likely to see some disappointing profit numbers.”

December 20, 2006 — USA Today, "FedEx moves record 9.8M packages Monday "
Some 43% of shoppers said they planned to buy online this holiday season, compared with 36% last year, according to a survey by consulting and market research firm Retail Forward.

December 1 , 2006 — USA Today, "Wal-Mart sales may reflect gas costs"
Fuel prices may be sending some consumers to their computers rather than to bricks-and-mortar stores this holiday season. A survey by consulting and market research firm Retail Forward shows 43% of shoppers plan to buy online this year compared with 36% last year. More planned to use catalogs, too: 16% vs. 13% last year. “These increases may reflect the impact of persistently high fuel prices,” says Frank Badillo, Retail Forward’s senior economist. Retail Forward’s survey also found that consumers have done 23% of their holiday shopping so far.

December 1, 2006 — BusinessWeek.com, "Wal-Mart: Hungry for New Shoppers"
Today, 24% of Americans’ grocery budget is spent in Wal-Mart stores, according to research firm Retail Forward. The firm conducted another price comparison study in Columbus, Ohio, where a number of Wal-Mart’s competitors like supermarket Kroger and pharmacy CVS were slashing prices on some food and soft drinks below Wal-Mart’s. Retail Forward Vice President Sandy Skrovan found that a basket of 20 items at Wal-Mart always cost the lowest, regardless of price cuts at other places. “Consumers know that you get name-brand foods at Wal-Mart and you can trust its low prices,” says Skrovan.

December 1, 2006 — Chicago Tribune, "Retail sales merrier at higher-end stores"
"The fact that these results are weaker than last year is going to make a number of retailers nervous," said Frank Badillo, senior economist at Retail Forward Inc., a Columbus, Ohio-based market research firm. "And they'll step up the promotions going into the last days of the holiday."

November 29, 2006 — Reuters, "Home Depot, Lowe’s expand holiday décor, gift items"
“Both retailers need to find ways to be more relevant throughout the whole year,” said Steve Spiwak, senior consultant with Retail Forward, a retail and consumer products research firm. “The beefing up of the seasonal offering is a good way to boost sales and margins as the housing market takes some of the sizzle out of the growth they’ve seen,” he added. Consultant Spiwak said with the expanded décor offerings, Home Depot is looking to draw more female shoppers – customers it has not historically courted – especially since it has scaled back plans for new store growth. “Home Depot is facing market saturation….it really needs to find new ways to mine growth,” Spiwak said.

November 2, 2006 — USA Today, "Retail Sales Show Mostly Rich Shop Till They Drop"
“They’re polar opposites in terms of how the economy is affecting them,” says Frank Badillo, senior economist at Retail Forward, which studies retail trends. Looking ahead to the holidays, the majority of shoppers surveyed by Retail Forward said they will spend about the same this year as last. But many more lower-income shoppers than affluent shoppers said they plan to spend much less.

November 2, 2006 — USA Today, "Wal-Mart's Poor Showing Deals Retail Stocks a Blow"
Holiday retail forecasts are strong and stable. Holiday sales are expected to gain 5.5% this year, says Frank Badillo, economist at market research firm Retail Forward. While that’s down from 7.2% in 2005, 6.8% in 2004 and 6.2&% in 2003, it’s still well above the 2.8% growth in 2002, 2.5% in 2001 and 4.3% in 2000.

November 3, 2006 — BusinessWeek.com, "Tis the Season for Price Cuts"
Persistent gains in jobs and income are skewed toward the management and professional jobs held by higher-end consumer,” says Frank Badillo, senior economist and vice president at research firm Retail Forward.

October 24, 2006 — Inc.com, "Retailers Start Holiday Promotions Earlier Than Earlier Than Ever"
Online retail sales in the fourth quarter are expected to increase by 23 percent over last year, hitting $33 billion compared to $27 billion in 2005, according to estimates by Retail Forward, a marketing research firm based in Columbus, Ohio. By contrast, sales at brick-and-mortar stores are expected to grow by just 5.5 percent this year, below the 10-year average growth in holiday sales, the firm said. “E-commerce will continue to represent the fastest-growing retail sector this holiday season, propelled by retailers are becoming more aggressive online and consumers growing more comfortable with virtual shopping, said Frank Badillo the firm’s senior economist.

September 29 , 2006 — Reuters, "Holiday sales seen moderate; housing weighs"
Department stores are likely to lag once again as mass retailers add more fashionable merchandise to attract more customers, Retail Forward’s senior economist Frank Badillo said.

September 25 , 2006 — The Wall Street Journal, "Lower energy costs may aid discount stores, electronics"
Frank Badillo, senior economist with consulting and research firm Retail Forward Inc., said falling gasoline prices along with healthy job trends and income growth are helping to offset some of the impact on sales of a weaker housing market. Retail Forward forecasts 5.5% sales growth in the fourth quarter, below the 7.2% gain last year and slightly below the average holiday growth rate since 1995.

September 13 , 2006 — Investor's Business Daily, "Fashion-Conscious Kohl's Ties Knot With Vera Wang"
The store’s strategy used to be focused on offering national brands for less, says Mary Brett Whitfield, a senior vice president at industry consultant Retail Forward. “They’re transitioning their strategy from being a place to get national brands at value prices to one where their own brands are emphasized as much or more so,” she said. “The Vera Wang brand is one of the most visible brands they’ve announced.” Whitfield expects the new brand to be higher profile than some of the other Kohl’s launches, since the collection will span a number of categories at its opening.

August 18 , 2006 — Associated Press, "Wal-Mart Battling to Revive Growth "
Sandra J. Skrovan, who heads a Wal-Mart research program at consultant Retail Forward Inc. in Columbus, Ohio, said Wal-Mart is well-positioned to weather the current gas crunch, even if prices don't decline. Its Supercenters, which combine a full grocery section with general merchandise, offer a one-stop shop and customers will continue to come in for food even if they postpone buying home electronics or clothes. "The retailers that are positioned to provide value and convenience to consumers who are having to tighten their wallets and having to reduce the number of trips they make are really in a good position," Skrovan said. But Skrovan agreed it was too early to say when Wal-Mart will see an increase in sales from its new initiatives, which include more organic foods, trendier clothes for women including a new segment of its George line from designer Mark Eisen, and flashier home electronics in a remodeled display. Those changes are meant to compete with rivals like Target Corp. and Best Buy.

July 17, 2006 — BusinessWeek Online, "Urban Outfitters, Fashion Victim"
It all comes back to the vagaries of fashion. In retail “it is hard to be on the top of the heap for a long period of time,” says Mary Brett Whitfield, a senior vice president at research firm Retail Forward Inc. in Columbus, Ohio. “What’s hot one moment can easily be not [the next].”

June 28, 2006 — Reuters, "U.S. retail sales growth will moderate – Retail Forward"
Retail sales growth will ease next year as U.S. shoppers realize that higher gasoline prices are a reality, not a temporary blip, and the slowing housing market will stall what has been an easy source of cash for consumers, according to consulting firm Retail Forward. “The outlook for the next couple of years is a good news and not such good news scenario,” Steve Spiwak, a Retail Forward economist, said during an Internet presentation by the firm to discuss the retail industry outlook.

June 20, 2006 — Investor’s Business Daily, "DSW Steps Up Its Efforts to Attract More Shoppers"
In December, the number of stores Americans frequented fell to an average of 17.2 from 20.1 two years earlier, according to industry consultant, Retail Forward. Customer loyalty programs play a role in the trend. So do higher gas prices, growing time constraints and a move toward online shopping, says Mandy Putnam, a vice president at Retail Forward.

June 22, 2006 — Pittsburgh Tribune Review, "Harrison’s will formally close by Labor Day"
Lois Huff, an analyst at Retail Forward in Columbus, Ohio, said, while men’s fashion is becoming casual overall, pockets of formal resistance exist. “The work uniform of American men is decidedly casual compared to what it was a decade ago, she said. “But there’s a revived interest in a more structured look, a more tailored look. It’s slowing that movement toward the casual, but the casual is still happening.”

May 18, 2006 — Associated Press, "Apple’s retail strategy pays off"
Altogether, Apple’s stores pulled in $2.35 billion in revenues in fiscal 2005, making it one of the fastest growing retailers in the world, according to Retail Forward, an Ohio-based consulting and market research firm. “Other retailers are also increasing the hands-on experience, but no one has done it as well as Apple,” said Mary Brett Whitfield, a Retail Forward analyst.

May 16, 2006 — Forbes.com (Associated Press), "Update 6: Wal-Mart 1Q Profits Rise"
Sandy Skrovan, who heads a Wal-Mart research program at consultant Retail Forward Inc. in Columbus, Ohio, said Wal-Mart’s Supercenter format is more attractive to shoppers when fuel prices are high. “Shoppers are consolidating trips so they can do more at a single location. They don’t want to drive around,” Skrovan said. Shopping frequency is down across the board, Skrovan said, from discounters to higher end stores. But Skrovan said Wal-Mart is holding its own in trips from consumers because it keeps adding new stores and because of its one-stop offerings.

April 3, 2006 — Yahoo! Finance, "Throw Momma from a Plane"
Retail analysts and industry organizations are taking note of this growing consumer trend, with Xperience Days helping to pioneer the growth of the budding new experience gift industry. Lois Huff, senior vice president of Retail Forward, a consulting and market research firm, said that the trend in experience gifts is “really going to escalate over time,”…

March 3, 2006 — Investor's Business Daily", "Shopping List: Bread, Batteries, Health Exam ..."
"What the retailers are probably hoping to gain from having these clinics is increased store traffic, an increase in the average transaction size and an opportunity to sell more things," said Sandy Skrovan, a vice president at industry consultant Retail Forward.

March 3, 2006 — The New York Times, "Wal-Mart Extending Dominance of the Grocery Business"
Coke's new game plan underscores Wal-Mart's growing power in the grocery business. With nearly 2,000 supercenters in the United States and plans for 280 more this year, Wal-Mart is the country's largest food retailer, according to Retail Forward, a research firm in Columbus, Ohio. Data from food and beverage companies indicates that Wal-Mart represents 14 percent to 18 percent of all food and beverage sales.

February 9, 2006 — Investor's Business Daily, "Job, Pay Gains Should Help Out Mid-Income Shoppers This Year"
“The ripple effect of higher interest rates will hit home this year, particularly for the mid to lower income segments,” said Steve Spiwak, an economist at retail consulting firm Retail Forward. “It looks like the Fed has been on a steady diet of rate increases since 2004, which work with a lagged impact, and I think 2006 is the year we’ll see the impact.”

January, 2006 — Progressive Grocer, "Know Your Enemy"
“The key for retailers is to tailor their stores to the markets they’re in,” suggests Nick McCoy, senior consultant at Columbus, Ohio-based Retail Forward. “Stores are going to get smaller and more focused,” he predicts. As many supermarkets have discovered, the concept of health and wellness goes hand-in-hand with natural and organic foods, adds Retail Forward’s McCoy. “People want to eat healthier, and I think that will continue. Supermarkets need to make it easier to find nutritious foods, and for shoppers to compare foods from a nutritious standpoint.”

December 19, 2005 — Fortune, "Wal-Mart vs. the world
Overseas expansion is critical to growth, but success beyond the U.S. will be difficult."
“Expanding into new countries will play a critical role in whether or not Wal-Mart meets its aggressive growth goals,” says Retail Forward analyst Sandy Skrovan. But will Wal-Mart’s recent moves put the squeeze on its overseas rivals, or will it get squeezed itself? An analysis of Wal-Mart’s overseas opportunities by Retail Forward confirms those findings. Wal-Mart’s move into Brazil, for example, is forecast to have low prospects for growth and high risk, making it a poor choice for expansion.

November 21, 2005 — The Wall Street Journal, "Upscale Experience, Downscale Prices"
Some experts see the merger-and-acquisition activity continuing for several months or years as more shakeout happens in the industry and private-equity firms eventually look to flip their retail acquisitions for a profit. “The big will continue to get bigger,” says Dan Stanek, Executive Vice President at market analysis firm Retail Forward, based in Columbus, Ohio. “There isn’t going to be this one super-regional mall model that everyone constructs”, says Mr. Stanek. “Consumers have said that rather than going into a one-million-square-foot mall, they’re more interested in getting to specific stores.”

November 10, 2005 — CNNMoney, "Hey Santa, show some imagination! Tired of the same old stuff, more people are giving experiences as holiday gifts."
The trend in experience gifts is "really going to escalate over time," said Lois Huff, senior vice president of Retail Forward, a consulting and market research firm. Huff explained that the trend is driven by "zoomers," or aging baby boomers, folks with a lot of experience and discretionary income who are more interested in creating memories than in acquiring more possessions. "Anybody can get anything, anytime, anywhere," Huff said. Now, what people want is something "unique and inspirational."

October 25, 2005 — BusinessWeek Online, "Wal-Mart launches environmental drive"
Tom Rubel, who heads consultant Retail Forward in Columbus, Ohio, said Scott was marking a new start for Wal-Mart after recognizing that being green was good both for the environment and for business. "I do think that this is a departure. This is sort of vintage Wal-Mart. They have listened, and learned, and now they have set a course and they've established some aggressive goals and now they're going to go after it very aggressively," Rubel said.

October 20, 2005 — The New York Times, "Cheap: It’s Chic, but Is It Good?"
Retail analysts like Geoff Wissman, with Retail Forward, a market research firm in Columbus, Ohio, think that more serious furniture offerings at the big boxes could be a hard sell. Mr. Wissman said he thought that $300 was the high-water mark of what customers would spend – Target, despite its campaign to trade up, being no exception.

September 26, 2005 — The Wall Street Journal, "Follow the Money"
“They’re in high-income years and are still young at heart,” notes Lois Huff, senior vice president at Retail Forward Inc., a Columbus, Ohio, consulting and research firm. That’s especially true of so-called zoomers, those born from 1946 to 1955 on the leading edge of the baby boom.

September 26, 2005 — The New York Times, "New Level of Competition: When a Supplier Gets Into Its Customers' Business"
One reason, said Dan Stanek, executive vice president of Retail Forward, a consulting firm in Columbus, Ohio, is that consolidation in the retail industry has made retailers such formidable challengers to supplier like FedEx that they have no choice but to fight back. The growth in private-label brand – a category of products that retailers sell under their own brand names alongside similar or identical items from their suppliers – is but one manifestation of the retailers’ growing clout and independence. Now, it may be that suppliers see the Web as the ideal place to win back some business, Mr. Stanek said.

September 21, 2005 — The Wall Street Journal, "Making Sense of Dollar Stores"
Market-research firm Retail Forward predicts that the industry's overall sales -- from new and older stores -- will slip to average annual growth of 5.4% over the next five years from 6.2% in the past five. The slowdown signals that dollar stores are entering a new phase. As its rapid momentum slows, the industry must draw more of its growth from improving the performance of its existing stores. "I wouldn't yet characterize the [industry] as mature -- but probably at the peak of its growth cycle and on the cusp of maturity," said Sandra Skrovan, a Retail Forward vice president.

September 19, 2005 — USNews.com (U.S. News & World Report), "Luring the 10-Buck Crowd"
“Steve & Barry’s is at the forefront of a trend in retailing – what’s called extreme retailing,” says Lois Huff, senior vice president of the market research firm Retail Forward. “They have low prices and good value.” Target and Old Navy are following a similar strategy,” Huff says, but Steve & Barry’s “takes extreme value to the next level”.

August 17, 2005 — The Wall Street Journal, "Fuel Prices Damp Wal-Mart Profit; Outlook Is Pared"
“Discounters like Wal-Mart continue to feel the brunt of the step up in gasoline prices,” said Frank Badillo, senior economist at market-research firm Retail Forward. “But it doesn’t necessarily mean that all of retailing is going to tank through back to school and the holidays.”

August 10, 2005 — WWD, "The Shopping Experience: Service Is Key"
Nearly as many – 23 percent – decided not to patronize a store again because of an unpleasant experience with store policies. “It is surprising that they leave altogether rather than visiting less or spending less,” said Mandy Putnam, a vice president at Retail Forward and author of the July “American ShopperScape™ study. “It’s partly because there are so many places to shop these days.”

August 1, 2005 — WWD, "Fixing Wal-Mart Apparel: Retail Giant's Trend Team Searches for Elusie Mix"
Mandy Putnam, vice president with Columbus, Ohio-based Retail Forward, said Wal-Mart’s “share of preference” – respondents who listed Wal-Mart as the place they buy most of their clothes – has been stable at about 20 percent this year.

July 29, 2005 — The Washington Post, "Farewell to Hecht's Familiar Brand; Stores Renamed Macy's; Wheaton Location to Close"
To survive, said Lois Huff, a senior vice president at Retail Forward, regional department stores must band together to attract more customers, more fashion and more clout – with their suppliers and with the newspapers, radio and TV stations in which they advertise.
The Washington Post, July 29, 2005

July 11, 2005 — Business Week Online, "Wal-Mart's Missing Spark
Despite its surprisingly good June growth, Wall Street wants far better. Persistent legal problems are also dampening investor enthusiasm "
At more than 20 million shoppers a day, Wal-Mart's customer base is huge. But they have less disposable income, with an average annual salary of $35,000 compared with $50,000 for Target's typical customer, according to researcher Retail Forward. Small wonder one of the megaretailer's highest priorities this year is to get more affluent customers through its doors.

July 3, 2005 — The Dallas Morning News, "Consumers like cartoon Mr. Magoo are overcoming obstacles"
Retailers including J.C. Penney Co. and Target Corp. are expected to report strong June sales this week as U.S. consumers succumb to what one retail economist calls the “Mr. Magoo effect.” It’s an analogy that seems to support America’s behavior, said Frank Badillo of research firm Retail Forward Inc. “With higher energy prices, housing bubbles and other threats, real and imaginary, the U.S. consumer has taken some hits…but overall is showing an uncanny ability to keep spending.”

June 13, 2005 — The Wall Street Journal, "Mass Stores Go Class: Upgrading Apparel Areas to Attract New Shoppers"
“Target has given consumers access to a design sensibility,” said Mandy Putnam, a vice president of Retail Forward. “Wal-Mart has given consumers access to products.” In a report, “Merchandising: Nipping at Wal-Mart’s Achiles’ Heel,” Putnam said, “Despite Wal-Mart’s Achilles’ heel in visual merchandising, it must figure out a way to engage more female shoppers.”

June 8, 2005 — The Wall Street Journal, "Broadband Boosts E-Retailing"
Retailers need to stay focused on what consumers want when they shop online, said Mary Brett Whitfield, a senior vice president of Retail Forward Inc., a consulting firm that specializes in retail. Retail Forward found that 52% of people who go on the Internet shop online, but just 4% of these cite shopping as the primary reason for going online, she said.

May 27, 2005 — The Wall Street Journal, "Details: Liked the Food? Buy the Accessories"
Some restaurateurs are trying to leverage their signature dishes into another source of revenue, by selling unusual housewares they’re served in. “They think about how they can get another share of the wallet from the customer, and expand beyond their traditional channels of distribution,” says Geoff Wissman of consulting firm Retail Forward.

May 23, 2005 — Barron's Online, "Dressed for Success"
Lois Huff, a retail consultant with Columbus, Ohio-based consulting firm Retail Forward, calls Coldwater Creek one of a handful of apparel retailers that target women from 35 to 60 years old. ...increasingly, Coldwater is moving beyond its roots in catalog sales. Baby-boomer women who battle middle-age spread "do not want to shop online or via catalog," since they prefer trying clothes on their changing bodies, Huff observes.

May 23, 2005 — Forbes, "The Morning After; Thrifty matrons flock to Tuesday Morning for brands on the cheap. Can Kathleen Mason attract their faddish daughters without driving away Mom?"
They line up before each of the chain’s ten annual “sales events”, snatching up 35% of the 30-year-old chain’s products in the first five days of a sale, compared with a typical 5% at a department store, according to Geoff Wissman of consulting firm Retail Forward.

May 13, 2005 — The Chicago Tribune, "Wal-Mart's stumbles termed temporary"
Worldwide sales of the Bentonville, Ark., company will grow from $285 billion to $500 billion by 2010 as the discount chain opens more stores, introduces new formats, cracks untapped foreign markets and delves into non-retail business, said Al Meyers, senior vice president for Retail Forward Inc. during a speech. He predicted that Wal-Mart would account for 12 percent of U.S. retail sales, excluding autos and gasoline, by 2010, up from 8 percent today.

May, 2005 — Accessories Magazine, "The Federated May Merger"
One of the biggest opportunities for Federated created by the merger is the chance to extend its thriving private label program. According to Lois Huff, senior vice president for consulting and market research firm Retail Forward in Columbus, Ohio, Federated already has a strong stable of profitable private label fashion brands, such as INC, Charter Club and Hotel Collection, and the merger potentially gives the company another 500 retail doors to transform these names into a national brand.

April 11, 2005 — Women's Wear Daily, "Survey: April Spending to Rise"
Despite soft comparable-store sales results for March and rising gas prices, market research firm Retail Forward predicts retail spending will bounce back in April. “Because <middle market consumers> account for about half of all consumer spending, this is a good sign for the retail sector in the month of April,” said Steve Spiwak, an economist with Retail Forward, in a statement.

March 24, 2005 — Women's Wear Daily, "Retail Women’s Apparel Prices Decline .4 Percent in February"
“Clearly, we are seeing an impact from the lifting of quotas at the beginning of the year,” said Steve Spiwak, senior economist at Retail Forward. “A lot of retailers are testing the waters and seeing if they can keep prices sticky to pad their margins,” he said. “However, as the year progresses, my view is the downward pressure on apparel prices will heighten.”

March 14, 2005 — Time Magazine, "Who Will Buy It? The Nation’s Largest Purveyor of Consumer Gadgets Hopes to Build its Business by Tapping the Wallets of Jill, Barry, Buzz and Ray"
By varying the merchandise at segmented stores, argues Geoff Wissman of research firm Retail Forward, Best Buy will become more complicated to run, and that could drive up costs.

February 13, 2005 — The Boston Globe, "The Endangered Department Store "
“For the necessities in life, people want to pay as little as possible so they go to the Targets of the world. For the rest…they like to splurge on the special items, and those are sold at Coach or Neiman Marcus,” said Steve Spiwak, an economist at Retail Forward Inc., a Columbus, Ohio consulting firm. Overall department store sales dropped to 6.6 percent of all nonautomotive retail sales in 2004, down from 11.1 percent in 1994, according to data compiled by Retail Forward.

February 9, 2005 — WWD, "The Squeeze on Apparel's Sweet Spots"
“Apparel is unique in the world of retail – it’s the one sector that calls for more niche concepts, trying to link products with more specific shoppers” advised Lois Huff, senior vice president specializing in consumer behavior at Retail Forward. “In apparel’s fragmented environment, you need to stand for something.”

January 21, 2005 — The Washington Post, "Retail Chain Looks to Build on Momentum"
Lois Huff, a senior vice president at Retail Forward, a consulting firm, said Federated is now “the most aggressive” department store chain in the country and she credited it with staying “relevant” at a time when most department stores remain “product emporiums” filled with too much merchandise.

January 10, 2005 — WWD, "Analysts Give Mixed ’05 Outlook Consumer Spending in Question"
Based on data from Retail Forward’s Future Spending Index for January, consumers are expected to spend at a stronger pace in the first month of the new year. Retail Forward’s Index rose to 104.9, the highest level in six months, from 98.7 in December. “This month’s results show that the late-holiday shopping momentum should extend into the new year,” observed Steve Spiwak, economist at Retail Forward.

January 7, 2005 — USA Today, "Late shopping pushes sales growth to 3%"
Not great, but solid, analyst says. “It’s not a spectacular performance but certainly a solid one, given all of the factors that have weighed on consumers,” says Steve Spiwak, senior economist at market research firm Retail Forward, citing higher fuel prices and modest real wage growth.

January 4, 2005 — Knight Ridder/Tribune Business News, "Wal-Mart increases December sales projection to 3 percent growth"
“It’s a good sign for the broader market, which still lagged the up market but probably did better than some thought,” said Frank Badillo, an economist with Retail Forward. He said a late-year drop in oil prices from October’s 21-year highs, along with an improved job market, nudged more consumers into stores during December.

December 6, 2004 — The New York Times, "From Bentonville to Beijing and Beyond"
It’s a mixed bag out there for Wal-Mart,” said Steve Spiwak, an economist with Retail Forward, a research and consulting firm in Columbus, Ohio, that counts Wal-Mart among its clients. “Their problems have been trying to transplant their stores without molding them to local customs.”

December 3, 2004 — Business Week Online, "Wal-Mart Comes Back Swinging; Disappointing November sales have brought a rapid response, starting with steeper discounts on top-selling items and an online ad blitz"
“I doubt the aggregate gross margin on those 24 items is going to dictate Wal-Mart’s earnings next quarter,” says Tom Rubel, CEO of consultancy Retail Forward. Still, if the products are right and the discounts steep enough, he expects Wal-Mart will succeed in luring back shoppers. “Promotions are clearly driving traffic,” says Rubel. “Even for Wal-Mart, they need to be in that promotional game.”

November 18, 2004 — Chicago Tribune, "Mixing famous lines could weaken brands"
“Lands’ End, Craftsman – those brands have tremendous brand heritage, and it might not make sense to risk their brand equity” by adding them to all Kmart stores, said Lois Huff, analyst for Retail Forward. “Sears has the stronger brand equity as a company, the stronger brand assortment.”

October 29, 2004 — The Wall Street Journal, "Some Retailers Are Cautious About Adding Jobs for Holidays"
“The holiday outlook is a bit uncertain,” says Frank Badillo, senior economist at Retail Forward Inc., a consultancy based in Columbus, Ohio. “If you’re in one of the hot sectors – like home improvement and electronics – the expectations are higher,” Mr. Badillo says. “Discount stores will have mixed results, and the declines will be concentrated at mall-based specialty and department stores.”

October 18, 2004 — The Wall Street Journal, "The Good News, Or the Bad News? – U.S. Pre-Election Economy Is a Mixed Bag, With Fortunes Varying Even Within the Same Industrial and Regional Sectors"
Consulting firm Retail Forward Inc., which estimates future shopper demand in a monthly index, predicts that October’s retail sales will be softer overall than September’s, as middle-income and lower-income households rein in their spending, offsetting improving confidence by upmarket consumers.

September 22, 2004 — The New York Times, "Expensive Gas and Nasty Weather Depress Retail Hopes"
Retail Forward, a market research and management consulting group based in Columbus, Ohio, came out with the cheeriest projection so far: the best Christmas since 1999, with an estimated 6 to 6.5 percent growth from last year. “The key drag on retail sales last year is gone, namely the lack of job creation,” said Steve Spiwak, economist at Retail Forward.

September 2, 2004 — The Wall Street Journal, "Latte Letdown: Starbucks Set To Raise Prices"
“In the end, Starbucks probably will be able to pass along a price increase without a very big falloff,” says Frank Badillo, senior economist at Retail Forward Inc., a Columbus-based consulting firm.

September 2, 2004 — The Wall Street Journal, "Wal-Mart’s Same-Store Sales Up 0.5% in Aug"
Wal-Mart accounts for 10% of the country’s sales, excluding auto sales, and represents a strong indicator of the consuming public, particularly shoppers with middle to lower incomes. Frank Badillo, senior economist at Retail Forward, a marketing-research and consulting firm based in Columbus, Ohio, said the gas-price increases have persisted long enough to have taken a toll on lower-income shoppers.

August 24, 2004 — The Wall Street Journal, "Wal-Mart Dims Sales Outlook for August as Demand Slips – Gas Prices, Slow Job Growth Sap Consumer Spending; Rival Target Is Also Wary"
Wal-Mart accounts for 10% of the country’s sales, excluding auto sales, and represents a strong indicator of the consuming public, particularly shoppers with middle to lower incomes. Frank Badillo, senior economist at Retail Forward, a marketing-research and consulting firm based in Columbus, Ohio, said the gas-price increases have persisted long enough to have taken a toll on lower-income shoppers. “The pause in hiring we see now is also hitting the down-market retailers more than others,” he said.

August 23, 2004 — USA Today, "Flip that collar up: Prepsters rule at school; Fresh but retro fashions expected to lift retailers"
“Any time you push a trend too far, there’s a natural backlash,” says Lois Huff, apparel analyst at consulting firm Retail Forward. “A lot of fashions have gotten too form-fitting, too revealing, and it’s old hat now. Teens are about what’s new.”

August 4, 2004 — The Chicago Tribune, "Apparel missteps take toll at Sears; Retail giant admits problems are becoming a pattern"
Relatively few shoppers <in contrast> spend most of their clothing budget at Sears, according to Retail Forward. In a survey of shoppers from November through June, only 2 percent of respondents identified Sears as the place they spent the most money on apparel, the researcher found. Named most often, at 21 percent, was Wal-Mart.

July 28, 2004 — The New York Times, "Discount Variety Stores Work on Image to Upgrade Retail Locations"
A report issued in June by Retail Forward, a consulting company in Columbus, Ohio, found that a quarter of Americans with household income exceeding $100,000 had shopped in a dollar store in the previous six months, although only 7 percent were doing so on a monthly basis.

July 21, 2004 — Women’s Wear Daily, "Walmart.com Back in Apparel"
Mandy Putnam, vice president of Columbus-based research firm Retail Forward, called walmart.com’s entry into apparel “a large splash in a small pond” because, she said, e-tail sales represent only a fraction of overall apparel purchases.

July 19, 2004 — BusinessWeek Online, "There Goes the Rainbow Nut Crunch"
To stay competitive, food companies are weeding out their slow-selling products. Pressure on packaged-food companies will only worsen. That’s because Wal-Mart, too, is continuing to expand its private labels. In five years, says Retail Forward, the giant’s own brands will account for 25% of its grocery sales, up from 20% today.

July 8, 2004 — Financial Times, "Rivals learn to adapt or perish"
"As Wal-Mart grows, it will transform its competitors, its suppliers, and the industry it dominates," said Retail Forward, a retail consulting firm, in a 2002 report. "In retailing, this period will truly be the age of Wal-Mart."

July 6, 2004 — The Asian Wall Street Journal, "Wal-Mart Learns that Chic and Cheap are Tough to Mix and Match" "When you launch a fashion brand, you should do it with 360-degree support in terms of how it is merchandised and placed in stores, and you need to talk about it - difficult issues for Wal-Mart," says Mandy Putnam, an analyst with Retail Forward.