There are a number of consumers I've talked to who have given money to hurricane funds in lieu of gifts. Last year luxury retail was the grand slam .... If this shopper cuts back, it will send Wall Street into a spin.
More Quotes from Britt Beemer:
There are a lot of wealthy income consumers that have given a lot of money to hurricane funds, and they're saying they're doing that in lieu of Christmas gifts,Britt Beemer
The trouble today with retailers is they can't afford to have too many underperforming stores. When 10 percent of your stores are unprofitable, you will start losing money. That wasn't the case years ago.
Britt Beemer
Consumers love January because January has always been this great clearance month. If they don't see (sales), as they've proved this Christmas, they'll outwait the retailer.
Britt Beemer
It's a reflection of the bargain-hunter mentality of America since Sept. 11. Americans certainly changed the way they look at what they spend their money on.
Britt Beemer
Back to school is a very important season for retailers because it's one chance in the year when retailers get a shot at parents and kids at the same time. Historically, sports figures have been the big players now it's a different breed of endorsers taki
Britt Beemer
I think retailers will hold prices up to 40 percent off before Christmas and then go even deeper in January to clear inventory. No doubt, heavy discounts help sales but they hurt profits. And retailers, more than ever, know that they have to answer to Wall Street and not Main Street.
Britt Beemer
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