Retailers have no pricing power themselves, as evidenced by all the discounts they had to offer to generate holiday sales. In terms of volume, they succeeded, but not at the level of profitability they would have liked.
More Quotes from Stephen Gallagher:
Businesses have been through a lot over the last few years, and many of them don't have a great deal of tolerance for uncertainty.Stephen Gallagher
This is negative news and giving the market reason to pause a little. The core number is up 0.3 instead of 0.2. It's all it takes.
Stephen Gallagher
It's a very strong report. We're seeing a lot of strength in the consumer and business sectors.
Stephen Gallagher
It may be even more that one (rate hike). If they move once there is always another chance for another one, but I think the message that we got from Greenspan today is that it will not be an aggressive increase in rates.
Stephen Gallagher
On the headline, it's a great report, up 5.8 percent. The recovery is under way. But we're also beginning to see a bottom in durable equipment declines, which is important because it's about corporate profits. But we still need that to be stronger to make sure that this recovery is here to stay.
Stephen Gallagher
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Anna C. Brackett
The 'private sector' of the economy is, in fact, the voluntary sector; and the 'public sector' is, in fact, the coercive sector.
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There's no such thing as bad weather, just soft people.
Bill Bowerman