Remember, there are still over 2 million unemployed workers and over 5 million are on part-time jobs. Christmas will be moderately better simply because last year was so bad. But unless this jobs picture improves, it's hard to say that the retail industry has finally turned the corner.
More Quotes from Kurt Barnard:
What Sept. 11 has done to the economy is to accelerate, hasten and deepen the decline, but the decline existed before. The attack gave it the extra push in terms of retail sales. If you don't have a paycheck coming in, it doesn't matter how much cost of gasoline has gone down.Kurt Barnard
If you stash money away in a savings account, then there's less available to buy things in a store, from candy to cars, ... This is not quite the conventional retrenchment we've known from past recessions, but it may represent a kind of wishy-washy stagnation.
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
They have all learned one lesson -- make yourself more efficient. Operate more economically, and do more with less.
Kurt Barnard
Whatever strengths fashion apparel did show came from deep markdowns.
Kurt Barnard
Don't get carried away with this whole thing. It's considerably bigger than in times past, but it is not the kind of thing I would say that will make or break a company's quarter.
Kurt Barnard
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