I wouldn't read this at all as a shift in consumer trends. Discounters are benefiting from a weak economy and they have been taking market share from department stores.
More Quotes from Ken Perkins:
That's a pretty long stretch, and investors are concerned that earnings could take a hit unless sales improve.Ken Perkins
There's a deep concern that if this thing goes on, a lot of Christmas merchandise hitting the docks can't be transferred.
Ken Perkins
We don't have an opinion or more importantly a vote one way or another. We're not thrilled with it ... but it's essentially up to the analysts.
Ken Perkins
You really have to take March and April as a package deal because of the 2 to 3 percentage point shift that usually takes place because of the Easter holiday.
Ken Perkins
Fourth-quarter retail earnings are expected to grow 13.5 percent. That's below last year's growth and could come down further if we see plenty of promotions.
Ken Perkins
The first two quarters of last year were OK but not stellar. If we still have double digit increases in earnings during the third quarter, that would be good news.
Ken Perkins
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