Retailers are facing slightly more difficult year-over-year sales comparisons in February and the weather is unlikely to be as cooperative over the next two months as it was in January.
More Quotes from Ken Perkins:
There's a feeling that consumer spending could certainly get a boost as the first Fed rate cuts will have been in place for 8-9 months. And people will start receiving their checks from the tax rebate. Things are looking up for the retailers. I think the comparisons are looking better too.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
The Conference Board's November consumer confidence Index fell in November for the fourth consecutive month and was noticeably weak among lower income consumers.
Ken Perkins
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.
Ken Perkins
Profits are on the rebound but is it sustainable Given the extent of the previous bubble in tech, the recovery should be slower. There's a whiff of a pickup in business spending but not enough to hang your hat on just yet.
Ken Perkins
The deceleration in earnings growth is a significant concern. Techs are up against steep comparisons in the second half of this year and the first half of next year,
Ken Perkins
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