Overall consumption is outpacing income growth, and unless we see improvement in employment, that cannot be sustained.
More Quotes from Michael Niemira:
It seems clear that the mild pullback in consumer spending over the last week was due in part to the war beginning in the middle of a week, as well as the fact that the effects of the war have been built into the retail trend for the past month or so.Michael Niemira
Despite the needs of the displaced residents that lived in the path of Hurricane Katrina, which helped to lift sales for basic foods and other supplies in Texas and across the South, higher energy prices are seemingly weighing on demand for nonessential goods by middle and lower income households.
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
July was weaker than anticipated but we also got an upward revision in June. So overall, the result was more neutral than negative.
Michael Niemira
Wal-Mart is not a bellwether for the broader industry this season. The action isn't among their customers.
Michael Niemira
While Black Friday is important to retailers, it's not always the best indicator for consumer shopping patterns during the remainder of the holiday season, which should allow the retail industry to continue feeling optimistic.
Michael Niemira
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