Based on what we've heard and seen so far, the fashion apparel stores and department stores are going to be hit with lower profits.
More Quotes from Kurt Barnard:
It wasn't surprising really. The August same-store numbers really confirm the trend of slowing retail sales and consumer spending, ... August was the back-to-school that wasn't. August and back-to-school doesn't quite have the importance it did a decade ago, but outside of that make no mistake, consumer spending has slowed down and Americans are tapped out.Kurt Barnard
Today, (consumers) are beginning to realize they have to do some buying, but there isn't that much money yet after gas and what they've already bought at Wal-Mart.
Kurt Barnard
People are more inclined these days to make themselves rely on one salary instead of waiting for a Wall Street home run, and that is the background of the economic environment.
Kurt Barnard
The job cuts and nameplate changes will help keep prices down, ... The job cuts will trim costs and changing Marshall Field's to the Macy's nameplate also should save in advertising and in negotiating with vendors.
Kurt Barnard
A cold spring does hurt business.
Kurt Barnard
We were dealing with a very cautious, very careful consumer who was not really inspired to buy anything because there wasn't anything worth buying.
Kurt Barnard
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