January was a one of the warmest months in over a 100 years. So that not only drove sales of spring clothing and other seasonal merchandise earlier than usual but it also probably stole some sales from February.
More Quotes from Ken Perkins:
All groups showed comparable sales up over 5 percent for the month, ... The economy is certainly an element of the upside surprises. We saw back-to-back quarters of GDP growth. People also anticipate a significant amount of fiscal spending particularly in an election year. This bodes well for consumer sentiment.Ken Perkins
The last time Wal-Mart had a monthly same-store sales gain that low was back in December of 2000, with a 0.3 percent rise. Prior to that was in April of 1996, with a 0.2 percent gain. That was probably another year when Easter got pushed into April.
Ken Perkins
Consumers really felt the pinch of higher gas prices and job growth is stagnant.
Ken Perkins
Is this just a blip on the radar I think it could be. The economy seems to be snapping back. The third-quarter GDP number was a blowout number. I don't think it will be that great in the fourth quarter, but consumer spending will hold through the holidays. Also, retailers will be benefiting from easier comparisons in November and December.
Ken Perkins
On the economic front, there haven't been significant improvements in jobs and wage growth, and the comparable sales comparisons are only getting tougher, ... It sounds reasonable to expect big discounts this year. The macro factors would suggest it.
Ken Perkins
August is the big month because that's when the bulk of the back-to-school revenues are generated, ... But we got some very positive signs in July, especially with apparel sales showing the strongest monthly gains. Apparel sales are important because they provide the first indication of how consumers are spending their discretionary income.
Ken Perkins
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