One obvious explanation (for the weakness) is that investors are aware that Best Buy faces much tougher sales comparisons, particularly in the second half of the year. Looking at the numbers, second-quarter sales were up 7.8 percent, third-quarter sales rose 5.8 percent.
More Quotes from Ken Perkins:
These two companies have been lighting it up. They had a super December and they've generally been showing decent sales and earnings growth compared to other names in the specialty retail sector.Ken Perkins
We've finally got a great February. The first set of numbers indicates that this was a blowout month with the kind of sales gains that we haven't seen in a while.
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
Is Wal-Mart also hurting its business I think cheaper products at the discount stores did have a marginal impact on the company's sales.
Ken Perkins
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.
Ken Perkins
Readers Who Like This Quotation Also Like:
Based on Topics: Sales QuotesI got well by talking. Death could not get a word in edgewise, grew discouraged, and traveled on.
Louise Erdrich
A lot of these angles are really about trying to mimic broadcast sports angles in order to anchor the scene, to sort of normalize it before it becomes abstracted.
Matthew Barney
My father took me back home, back to Greenwich Village, and he thought by taking me out of the orphanage he'd be out of the World War too. But no way - they got him anyway. He went in the Navy and then I lived on the streets.
Gregory Corso