Best Buy is experimenting with a store format that cuts selling space down from about 27,000 square feet to 15,000 and dedicates the rest of the space to e-commerce fulfillment. The retailer started testing the format at four Minneapolis stores last year and plans to expand it to one or two more markets, sources said.

Retail sales will rise between 6.5% and 8.2% this year to surpass $4.33 trillion, as more people receive the COVID-19 vaccination and the economy reopens, according to a forecast released Wednesday by NRF. "Our principal assumption is that the vaccination will be effective and permits accelerated growth during the mid-year. The economy is expected to see its fastest growth in over two decades," NRF Chief Economist Jack Kleinhenz said.

Walmart's appointment of Denise Incandela as executive vice president of apparel and private brands is part of the retailer's effort to expand its apparel offerings and appeal to new online shoppers. Walmart's roster of recently added or expanded private label brands includes Eloquii Elements, Jeans by Sofia Vergara and Free Assembly, a line launched in September.

Home Depot and Macy's reported higher sales of home goods and strong growth in online retail in 2020 as the pandemic kept many consumers at home, and the trends have continued into the first part of this year. Both retailers said spending trends could shift in the second half of the year as more people get the COVID-19 vaccine.

Crocs took off in popularity during the pandemic as consumers traded formal footwear for comfy clogs and spent more to personalize their shoes with Crocs-owned charms line Jibbitz. Crocs were growing in popularity before the pandemic hit, CEO Andrew Rees said, and the company expects the momentum to continue as it launches new products, including sandals.

Retailers' merchandise imports are expected to remain strong along with consumer demand at least into the summer, NRF's Jonathan Gold said. Cargo ports are struggling with congestion and other supply chain issues that are creating new challenges and driving up costs for importers and exporters.

Teen entrepreneur Christianna Alexander launched soap and body product brand Sweet Christi's three years ago, and on Friday her products will get a national spotlight. As one of the businesses chosen for Qurate Retail Group's Small Business Spotlight, in partnership with the NRF Foundation, Sweet Christi's will be featured on both HSN and QVC.

The recent high-profile cyberattack against the SolarWinds supply chain put a spotlight on the need for retailers to reassess the security of their networks and cloud-based solutions. As the pandemic pushed many retailers further to digital channels, there's a growing need for more testing of software updates and more caution about immediately installing updates that could potentially have malicious code. Read more.

Consumers plan to spend an average of $40.77 on St. Patrick's Day-related items this year. Source: NRF's 2021 Annual St. Patrick's Day Spending Survey, conducted by Prosper Insights & Analytics.

NRF's Diversity & Inclusion Working Group serves as a platform for NRF members to further the discussion on diversity and inclusion in the retail community. NRF hosts monthly conferences for the working group and also conducts benchmarking calls and surveys. Recent meetings have covered strategies for ensuring diversity in hiring, promotion, retention and recruitment. Learn more.

Chick-fil-A remains at the top of the fast-growing chicken sandwich category with 45% of the total market, according to a report from Edison Trends that measured online chicken sandwich sales at eight chains. Popeyes' popular chicken sandwich, introduced in 2019, commanded a 17% share of the category, which saw sales surge 420% from January 2019 to December of last year.