Retailers know that for a lot of consumers, this is a time of uncertainty about their jobs, ... This will make them frugal with their holiday shopping and they will be on the hunt for the best deals out there.
More Quotes from Kurt Barnard:
When the full story is reached at the end of the quarter, retail profits will be less impressive, especially in apparel. There was nothing in the display windows (of clothiers) to incite cautious customers to buy.Kurt Barnard
Investors may appreciate the chance to look outside the tech sector. We think that retailers who are able to cater to the home will do very well, ... Since the middle of 1998, we have seen a switch. Suddenly people spend proportionately more money on things for the home - on home enhancement, we call it - than they do on apparel.
Kurt Barnard
The bigger it gets, the smaller the percentage growth will be. Let's say that when you add 10 new stores to 100 stores, you grow the business 10 percent. When you add 10 stores to 3,000 stores, the growth isn't obvious.
Kurt Barnard
The fourth quarter is going to reflect the intensely promotional nature of the holiday shopping season, make no mistake.
Kurt Barnard
The only way to grow in the retail business is to add yet another 100 stores, another 600 stores. Then someone else will see that you are successful. And that other fellow will do the same. And for a while it is fine, until suddenly there are more stores than the community needs.
Kurt Barnard
Whatever they've tried is not working. It's really a matter of how they have tried to do things, ... J.C. Penney management is essentially a multi-headed hydra. It's the kind of situation where decisions have been made very, very slowly, and after a decision has finally been made, the need for the decision is gone.
Kurt Barnard
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