If we use 2 percentage points for the overall expected effect from the calendar shift, that's still a pretty weak reading, a 1.9 percent trend. That's not strong at all. I guess what you can say is it's certainly consistent with the sluggish pace we've seen.
More Quotes from Michael Niemira:
The results for this past week reflect the fallout of Hurricane Katrina as national sales were held back by about one percentage point as stores were closed in the path of the hurricane.Michael Niemira
The strong May performance goes a long way to dispel concerns about the impact of gas price increases on consumer spending, ... I am surprised that the positive results were so widespread. It says 'Gee, the economic growth is clearly countering some of these other drags.'
Michael Niemira
Despite the fact that back-to-school shopping is in full swing, warm weather continues to hold back consumers' interest in fall apparel items.
Michael Niemira
It was a moderate sales performance good but not great. It really showed the resilience of consumers to spend on the holiday despite some strong head winds.
Michael Niemira
During the past week seasonally hot weather pared demand for fall apparel.
Michael Niemira
For the MarchApril period, industry sales are likely to show year-to-year growth of around 1.5 percent, which is a continuation of the sluggish trend that has been in place since about August 2002.
Michael Niemira
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