You've seen a general malaise in consumer enthusiasm to shopping at malls, so that's been a contributing factor (to lower department store sales) and there's also a bit of malaise in terms of interest in leading (department store) brands. That might be because department stores are getting a little stale and they lack freshness.
More Quotes from Richard Church:
I don't expect it to be as strong in 1999 as what we saw in 1998, which was an extraordinarily good year. But we do see still further growth from the consumer throughout the course of 1999, particularly in the first half of the year, and February was a good example of that, so we're off to a good start.Richard Church
The consumer has been out there spending pretty aggressively for some time. I think a reasonable case can be made that we will see growth through the end of the year. There may be some moderation, but the consumer doesn't shift gears on a dime.
Richard Church
We didn't get off to a very good start but we came back and played pretty well that second round. Western Illinois played really well, this is not an easy golf course. We still have a chance tomorrow but things have to go our way.
Richard Church
There's a lot going right with Wal-Mart. They've also done a lot of good things in terms of improving the presentation and the content of the merchandise in their general stores.
Richard Church
The consumer's been out in force for several months, ... all of these factors have contributed to very robust sales at retail.
Richard Church
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