I think there's less worry on the consumer, and our focus ought to be more 'Does business, capital spending pick up'... That's much more meaningful going forward.
More Quotes from Michael Niemira:
For instance, temperatures last week in the Northeast were 10 degrees warmer compared to the same period last year. That helped push sales of seasonal merchandise. Is all sales strength due to the weather That's hard to say.Michael Niemira
Consumers continued to buy for everyday needs, the staples, such as food, drugs, health and beauty aids.
Michael Niemira
Mix 'n match season for apparel Apparel is clearly a mixed bag, ... We have some very good and very weak performers.
Michael Niemira
Until July, income growth has outpaced the added dollars spent on gas. But gas prices have risen much faster in August. Income growth still has to outpace the increase in gas prices to at least offset the negative effective on consumers.
Michael Niemira
We have gone through a slowdown from the more robust pace of sales in the first-half of the year, but I think the slowdown was cause for some worry, not a real concern, ... Higher gasoline prices have taken the oomph out of the economy and spending. But without more conclusive evidence of a drop in discretionary spending, I would say the slowdown is more temporary than real.
Michael Niemira
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