The sales clear evidence of modest consumer spending slow down. We expect a decent holiday sales season, but an unspectacular one. The last three have been spectacular, particularly the last one.
More Quotes from Kurt Barnard:
Kmart's earnings were lower than a year ago, and the reason why they were lower is because there is a lot of money being invested in infrastructure. But it's going to pay huge dividends in the future, ... Kmart is finally very excellently positioned to turn around and create a very strong place in the sun.Kurt Barnard
Retailing and consumer spending are a function of a four-letter word -- jobs. And there are no jobs being formed in the United States at the present time. We are in an unfortunate labor climate, one that might be called not at all propitious for retail spending.
Kurt Barnard
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.
Kurt Barnard
Consumer spending is heavily devoted to hard goods. That implies for the most part that home-oriented things have been doing well for some time, ... Home sales have been skyrocketing. Every time a home changes hands, tens of thousands of dollars are spent on decorating, furnishings, adding new kitchens and bathrooms.
Kurt Barnard
It seems to be that a lot of these large chains are gravitating toward the advantages inherent in joint buying and obtaining lower prices and saving a lot of money in the process, ... ... It is very likely to be a powerful weapon in the retailer's arsenal to reduce the cost of buying and operating. And given the world of the Internet, which makes possible these alliances, it has to be recognized that consumers will find it so much easier these days to compare prices because all they have to do is click away.
Kurt Barnard
I think the name Firestone is a bad odor, period. I would not be surprised if this were going to be the end of a long, long, long, old established company. For them to recover, it's not going to be a very easy thing to do.
Kurt Barnard
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As soon, however, as capitalist competition has definitively established the equal rate of profit, that rate becomes the starting point for the calculations of the capitalists in the investment of capital in newly-created branches of production.
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