The upper end of the economy has done very well and the stock market is at a 3-12 year high. This bodes well for the high-end merchants, ... Discounters would have had a hard time because their customers were impacted by higher gas prices and uncertainty about jobs.
More Quotes from George Whalin:
All these new gimmicks are very interesting but the jury's still out about their impact on the consumer or if they'll be cost-effective in the long run ... People don't shop at a store because of one thing but a combination of factors. Even if shoppers like the fancy technology, a rude employee can turn them away from the store.George Whalin
The retail business in general is strong, and Federated is doing well, considering it has stores in major cities such as New York and San Francisco, where the affluent shopper is driving a lot of sales.
George Whalin
On the other hand, every major retailer subscribes to weather consulting firms that give seasonal forecasts over a period of a year in advance. They can better plan inventory accordingly.
George Whalin
He's not a retailer. He's never been a retailer, ... The guy who's running merchandizing and marketing is not a guy who's qualified to do that. This is baffling to me. It's mind-boggling.
George Whalin
There was overall confidence in the consumer's mind, with jobs stable and gasoline prices going down.
George Whalin
The department store business has gone through enormous changes in the last 10 years and we aren't through yet. It's a retail format that doesn't have a great future in it. Consumers have decided traditional department stores aren't their favorite places to shop.
George Whalin
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