What's happening is very simple. The numbers we saw today are clear evidence that the American public is shell-shocked to the point of being frightened over a big long list of circumstances surrounding the economy over which they have no power, no control. |
Whatever strengths fashion apparel did show came from deep markdowns. |
Whatever they've tried is not working. It's really a matter of how they have tried to do things, ... J.C. Penney management is essentially a multi-headed hydra. It's the kind of situation where decisions have been made very, very slowly, and after a decision has finally been made, the need for the decision is gone. |
When the full story is reached at the end of the quarter, retail profits will be less impressive, especially in apparel. There was nothing in the display windows (of clothiers) to incite cautious customers to buy. |
While consumers did go to malls in July, they did so to be in air conditioning but didn't make many purchases. |
While it's true that Sears is stuck in a sales slump for a long time, the retailer has also been in a restructuring mode, ... By getting rid of the credit business, it can finally devote all its resources to its core business. I'm convinced Sears will deliver impressive results in the next six to 12 months. |
While Saks is trying to make itself even more exclusive and pricing its goods even higher, the Neiman Marcus stores are going in the other direction and trying to attract a larger group of consumers. Today's development shows that competition in the luxury space is being ratcheted up a notch. |
With gas prices the way they are and with people suddenly being burdened with monthly car payments, they are looking for bargains. People are taking their money from Bloomingdale's to Penney, Kohl's (NYSE: KSS - news ) and Target (NYSE: TGT - news ). |
With this kind of weather, we've now had this for some days, I think you'll find retail sales will reflect a cautious attitude on the part of consumers, |
With Wal-Mart it's still a wait-and watch situation, but Target's news is a little worse, ... The problem with Target is that its department stores are underperforming. |
With Wal-Mart it's still a wait-and watch situation, but Target's news is a little worse. The problem with Target is that its department stores are underperforming. |
You don't pay $200 for a pair of shorts, |
You just can't compare the impact of a large number of sales of flashlights, which may cost $2 to $4, with lost sales, for example, of hundreds of pairs of shoes, each costing $50 to $200, |
You just can't compare the impact of a large number of sales of flashlights, which may cost $2 to $4, with lost sales, for example, of hundreds of pairs of shoes, each costing $50 to $200. |
You know, Americans have jobs. Americans are earning money. They feel good about themselves. They feel secure in their ability to hold onto the job, and even if they lose the job they know they don't have to go too far to find another one, ... So they feel a sense of security, of freedom to go out and spend and buy and do things for themselves, and that is why we are absolutely convinced that consumer spending will remain strong certainly throughout the balance of this year, and ... maybe into next year. |