There were a number of factors that dampened consumer spending,
More Quotes from Ken Perkins:
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.Ken Perkins
Weather transitioned from a major negative in May to a major positive in June,
Ken Perkins
For the past two to three years, this sector is struggling very hard in terms of trying to excite the consumer, with the exception of the high-end players like Nordstrom or Neiman Marcus.
Ken Perkins
The market is in terrible shape and the prospects for growth are not good,
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
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.
Ken Perkins
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