These numbers are not good. As one analyst put it, October will be the nightmare before Christmas.
More Quotes from Ken Perkins:
There wasn't a lot of color offered in press releases this morning on this great performance, but given the number of retailers that indicated strong gift card sales over the holidays, it looks like there were some pretty strong gift card redemptions taking place in January. Warm weather appears to have helped drive traffic as well and it helped retailers sell spring merchandise at full price.Ken Perkins
If numbers are better than expected and the news is good for second quarter outlooks, then we could rally on that. But I think the results are pretty much baked into the cake here.
Ken Perkins
On average, comparable sales grew 5.8 percent just in those three months compared to an average of 2.6 percent in the last six months of 2004, ... The first-half of the year will be a big challenge.
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
There's a deep concern that if this thing goes on, a lot of Christmas merchandise hitting the docks can't be transferred.
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
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