The worst part of these results is that they show that the effect of the tax rebate checks has petered out. This is a nightmare in itself for retailers and it doesn't bode well for Christmas. Also, we'll probably see more markdowns now, more than retailers anticipated for the holidays. That will hurt their bottom line.
More Quotes from 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
There is spotty evidence that in some stores inventories are running low, but considering that the action that's in the stores is not particularly hot these days, that (low inventories) may not be the worst possible fate. In many cases a lot of stores reduced the orders they placed, and in some cases, canceled orders, which is exactly what's happening.
Kurt Barnard
These numbers come on the back of heavy discounting. The back-to-school period also fueled results. Beyond that, the situation last year in July wasn't good. So retailers were up against much easier comparisons.
Kurt Barnard
It's not a core business, but (gardening) is a very profitable part of the business.
Kurt Barnard
They ought to go private. It makes it easier to make changes and what is more they will not have the personnel problem that always comes when someone totally new steps in and takes over the company.
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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