Orange County Register

The National Retail Federation asked President-elect Barack Obama Tuesday to include the struggling retail industry in his national bailout plans.

Among the key requests: a series of sales tax holidays to help build consumer confidence.

“We urge you to act quickly on legislation to help stimulate consumer spending as one of the first priorities of your new administration,” NRF said in a letter to Obama. “The situation is critical.”

The federation, which represents the interests of retailers, said sales tax holidays can provide a “substantial inducement” for people to shop.

“To this end, we suggest a series of three national sales tax holidays that would cover a very broad range of goods,” the NRF said a letter signed by the trade group’s chairman, as well as executives from JCPenney, PetSmart Inc. and Saks Inc.

In October, consumer confidence was at its lowest level in the 41 years that records have been kept, according to the retail federation. (Read the letter to Obama here.)

Tell us:

News on recent store closures …

• Quiksilver to close 25 stores
• Macy’s exec addresses store closure rumors
• Mervyn’s gives liquidation sales date for last 9 O.C. stores
• Retailer closes store at year-old big O.C. shopping center
• Brea Mall store closes
• Bella Terra store closes
• Goodbye Limited Too
• Clothing chain to close 100 stores
• Gap, Old Navy, Banana Republic owner to close more stores
• Ann Taylor closes O.C. store

Did you miss these retail stories …

• Want a holiday bargain? Try haggling
• Quiksilver to close 25 stores
• Quiksilver skips Action Sports Retailer show
• Poll: Which store tops the list for holiday shopping?
• Best Buy to cut corporate staff, open fewer stores
• Forever 21 will move into Anaheim Mervyns site
• Luxury sales drop 33% after Black Friday
• Kohl’s to move into 3 O.C. Mervyns

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