Apr 12, 2018
2 minutes
NRF execs meet with Trump at White House
Apr 12, 2018
A group of CEOs and executive members from the National Retail Federation (NRF) entered into face-to-face discussions with U.S. President Trump on Wednesday, citing the meeting as a chance to discuss "issues."
The retail execs -- CEOs from some of the nation’s largest and best known retail companies -- gathered with President Trump to discuss topics surrounding the industry, including recent tax reforms and deregulation.
“We appreciate this opportunity to tell the President how the important work he has done on tax reform and deregulation is benefitting the retail industry, our workers and American consumers,” NRF president and CEO Matthew Shay said, in a statement to the press, in addressing the talks that took place.
Another executive in attendance was BJ’s Wholesale Club president and CEO Christopher Baldwin, who is also chairman of the NRF board.
“Retail is more than just an industry unto itself – it is a barometer of the nation’s economy,” said Baldwin, who hailed "year-over-year increases in retail sales seen over the past several months [as] clear evidence of economic policy that is working."
"Tax reform has helped boost consumer confidence and we expect it to continue to yield significant benefits going forward," he added.
While it was unclear exactly who else attended the White House chat, the NRF said that only members of its executive group were privy to Trump talks.
The current NRF executive members include Karen Katz, the now departed CEO of Neiman Marcus; Jeff Gennette, CEO of Macy’s; Mike George, CEO of QVC; Marc Metrick, Saks Fifth Avenue president; Steve Sadove, principal of Steve Sadove and Associates, and Claudio Del Vecchio, CEO of Brooks Brothers.
No details were disclosed per future developments for the domestic retail sector, more so the NRF's praise for the President's direction for the industry.
“Today’s meeting shows that President Trump appreciates and understands the important role retail plays in the nation’s economy and wants to help our businesses continue to grow," concluded Shay.
According to the NRF, retail is the nation’s largest private-sector employer, supporting one in four U.S. jobs or 42 million Americans. It contributes $2.6 trillion to annual GDP.
The NRF represents the business interests of retailers including discount and department stores, home goods and specialty stores, merchants, grocers, wholesalers, chain restaurants and internet retailers from the United States and more than 45 countries.
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