There are two conflicting forces at work on the consumer. One is people have jobs, they have money, the unemployment rate is still at a 30-year low of 3.9 percent, a lot of economic circumstances are very, very favorable. A lot of economic circumstances are very, very favorable, people have money and jobs, but they don't have as high a discretionary spending level as they did a year ago.
More Quotes from 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
Rebates are wonderful to the extent that they are executed, regardless of the deficit,
Kurt Barnard
The weather was a factor and the effects of higher gasoline prices are finally catching up with retailers at the registers. Beyond that, I think we're likely to see softness for the next two to three months.
Kurt Barnard
With Wal-Mart it's still a wait-and watch situation, but Target's news is a little worse, ... The problem with Target is that its department stores are underperforming.
Kurt Barnard
While Saks is trying to make itself even more exclusive and pricing its goods even higher, the Neiman Marcus stores are going in the other direction and trying to attract a larger group of consumers. Today's development shows that competition in the luxury space is being ratcheted up a notch.
Kurt Barnard
The thing that drives retail sales most and best is job availability and the ease of obtaining new jobs. Both of these factors are absent at the present time. It may not be until the end of the year that we see job growth.
Kurt Barnard
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