I am very perplexed by these results. I had expected 50 percent of the 64 retailers that we track would have missed their sales forecasts. But two-third of that universe have beat so far.
More Quotes from Ken Perkins:
As rates continue to rise, there's less ability for consumers to refinance and take money out of their houses.Ken Perkins
If the price of oil remains between 45 to 50 a barrel, that's not a good sign especially if we experience a very cold winter. Heating oil prices will go up and that's likely to dampen consumer spending during the winter months.
Ken Perkins
Clearly falling gas prices coupled with the late arrival of cooler weather in the last two weeks of October gave a boost to consumer spending.
Ken Perkins
The news has been pretty positive given the headwinds consumers and retailers alike have been facing, ... encouraging.
Ken Perkins
Best Buy traditionally has been the primary player here and taking share very aggressively from some of the other players in the space, but Circuit City looks to have held their own here this holiday season. The discounters have tried to get into the space. Wal-Mart's been very aggressive in moving in there.
Ken Perkins
We think the lag effect of higher rates will significantly affect consumer spending. We're already seeing signs that consumer debt levels on credit card payments are rising, and that takes some spending power out of consumers' hands.
Ken Perkins
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