Most retail sales were relatively decent, but were achieved with the help of deep markdowns which will show up as heavy pressure on gross margins, and that is going to be reflected in the earnings,
More Quotes from Kurt Barnard:
Until the unemployment picture improves, consumers will be very cautious about their spending habits. We think the second half of the year could also be difficult for the retail industry unless the job demand improves.Kurt Barnard
Early indications show that store traffic and the promotional activity is at lower levels than last year at this time. I wouldn't be surprised if many retailers try to get away with selling merchandise at full price.
Kurt Barnard
They have all learned one lesson -- make yourself more efficient. Operate more economically, and do more with less.
Kurt Barnard
A cold spring does hurt business.
Kurt Barnard
To go head-to-head with a 10,000-pound gorilla is nonsense. It's like Switzerland declaring war on the United States. That, of course, doesn't work, ... Wal-Mart ate Kmart's lunch.
Kurt Barnard
Watch out for this company. It's telling us something. While most retailers sold indistinguishable products, Sharper Image sells exciting and unique things that people want to buy.
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