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.
More Quotes from Kurt Barnard:
Generally speaking, consumers like the opportunity of being put face to face with newness. They know they don't have to buy now.Kurt Barnard
It is a coming back down to earth. About two or three months ago, the world was swept up by the notion that the economic recession is over and the good times are rolling again. That meant consumers would be knocking down the doors of retailers the way they did a few years ago. But guess what It ain't happening.
Kurt Barnard
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.
Kurt Barnard
You just can't compare the impact of a large number of sales of flashlights, which may cost 2 to 4, with lost sales, for example, of hundreds of pairs of shoes, each costing 50 to 200,
Kurt Barnard
The entire athletic footwear business is not doing well, ... Sneakers, the lifeblood of the business, have peaked and are on a downhill slide.
Kurt Barnard
Just remember one thing - the competitive world around Home Depot is changing. Lifestyles are changing. He has stay not just on top of those changes, but a mile ahead of them.
Kurt Barnard
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