Last week's sharp decline in consumer confidence, as measured by the ABC NewsWashington Post Consumer Comfort Index, may have been a precursor of this week's spending drop.
More Quotes from Michael Niemira:
The last-minute rush by consumers may have come too late. I think the season overall was uneven.Michael Niemira
This is the pause that refreshes. This is not a doomsday scenario.
Michael Niemira
The holiday shopping season, thus far, has been choppy and overall sales performance will be difficult to determine until further into the season, ... We should get a clearer picture of retail performance following the Saturday before Christmas, which is typically one of the largest retail shopping days of the year.
Michael Niemira
The continuing bout of winter-like weather in the East is holding back spring merchandise demand in that region, while the hot weather in the West has consumers thinking about summer merchandise.
Michael Niemira
Part of the reason was that retailers built sales momentum by offering deep discounts leading up to Black Friday,
Michael Niemira
The arithmetic works in their favor. Looking at year-over-year comparisons, March last year was among the weakest months where retail sales also suffered because of a late Easter.
Michael Niemira
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