We had a strong back-to-school season and discretionary spending on low-priced items has trended higher. These are good indications for Halloween, which typically sets the tone for the rest of the holiday shopping season.
More Quotes from Richard Hastings:
Management is concerned about return on invested capital and return on shareholder equity and that's the focus. Everything else takes a backseat to that.Richard Hastings
If spending on durable goods slows down, it could also weaken sales of consumer electronics, especially on big ticket items that have a higher profit margin but are interest rate sensitive.
Richard Hastings
Consumers are benefiting from a combination of tax stimulus, new products, good apparel fashions and compelling prices.
Richard Hastings
We're at an extremely dangerous situation where home heating bills could be shockingly high this winter, ... This is very bad news especially in the northeast part of the country, where the population represents a pretty big chunk of national retail sales.
Richard Hastings
The fact that the Chinese currency is pegged to the dollar helps eliminate the inflationary effect on goods from China, ... The U.S., however, doesn't see that benefit from its other trading partners.
Richard Hastings
One area of trouble in consumer spending is households and individuals with weakening credit profiles. So far it's not yet a majority of households but the number of consumers in credit distress is on the increase. That's something to keep an eye on,
Richard Hastings
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