I know people refer to this as Black Friday, but it's probably a Blue Friday. We think it's going to be a season that'll probably be not as strong as last year, but nonetheless we think the consumer is in pretty good shape.
More Quotes from Richard Baum:
Gap is experiencing weakness across all its brands, with its merchandise problems exacerbated by its aggressive square footage growth,Richard Baum
We think there's very few of them that can be long-term buys because of the fashion aspect of it, ... In Gap's case, what's happened here is that they've acknowledged that they have missed fashion but, in terms of their inventory management, they'll be delivering more frequently to the stores with less inventory commitment to each delivery. That should minimize their markdowns and improve their gross margins.
Richard Baum
They shared the grievance that the government wasn't paying attention to ordinary people, that it was time to respond to the negative byproducts of economic reform. They considered the government to be arrogant, haughty and unresponsive.
Richard Baum
It's very mixed. When you get into an environment like this, the extremes get magnified -- the good do better and the struggling do worse. It's like quicksand.
Richard Baum
The one thing that everybody kind of has tucked into the back of their minds is that if there is some sort of event that affects a mall between now and Christmas. It's hard to say whether another plane crash like this is going to have much of an impact yet.
Richard Baum
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