Wal-Mart is not a bellwether for the broader industry this season. The action isn't among their customers.
More Quotes from Michael Niemira:
The big talk about value we haven't heard in 10 years since the last recession, but it comes back, and that's where we are now. Will department stores pick up again Sure, but it will require the economy to first turn around.Michael Niemira
Luxury has a strong run and it will slow down in 2005. This is more a function of the natural rhythm of retail spending.
Michael Niemira
Phase one at least met very modest expectations. It came late and it was uneven. Now, we are in phase two, which is taking on a different character. It could make a modest Christmas into a much better Christmas.
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
Basically, the consumer will hang in there. Unless there's some kind of a major problem, the consumer tends to be more passive and will continue to spend if credit is available.
Michael Niemira
The message may be that the finish to the holiday season was very good. However, Wal-Mart's monthly sales growth seen together is still on the weak side,
Michael Niemira
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