This is the pause that refreshes. This is not a doomsday scenario.
More Quotes from 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
All the worries - in terms of housing, interest rates, inflation, energy prices - are clearly at hand. But we haven't seen that worry turn into a dramatic pullback on the part of the consumer. We're seeing a moderately strong pace of sales for now, and that's the good news.
Michael Niemira
The bottom line is, the holiday sales performance is likely to be the weakest on record.
Michael Niemira
The last-minute rush by consumers may have come too late. I think the season overall was uneven.
Michael Niemira
The average temperature in January was about 8 degrees colder compared to last year. Cold weather doesn't interfere with shopping. It's the bad weather, with the snow and ice that cuts traffic.
Michael Niemira
The risk to retailers is moderate right now because the gas price increases are hurting consumers more at the low-income spectrum. But these are also consumers who shop more frequently at discount stores like Wal-Mart.
Michael Niemira
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