I think this is a good move, the right move to make.
More Quotes from Steve Kernkraut:
Any business they do on the Internet is going to be very profitable for them. They have the infrastructure. They don't have to create it. And additionally, the profit margins on their bras and underwear and lingerie are spectacular, while the other e-commerce companies have very narrow margins.Steve Kernkraut
Alan is a proven winner in every business he's been involved in. He's turned around Sears credit, he's taken charge of their Internet business and given it life, and he's been able to reorganize their home-services business. Probably the best part about him is he's coming into his position as CEO and he understands how CEOs work, but he doesn't have the emotional bias. He can make a kind of fair assessment about what the customer likes and what he doesn't.
Steve Kernkraut
I think the retail sector is a great sector to buy because they don't have any of these Asian flu syndrome. I mean, all the things that are happening in Asia right now are positive to retailers because a lot of these retailers -- their cost will go down and they'll be able to bring goods into the United States at a lower...cost basis.
Steve Kernkraut
The early November period was rather sluggish but the good news is that the Thanksgiving weekend was superb and that really set the momentum for the holiday season.
Steve Kernkraut
The expectation is that it's going to be a very disappointing season. Business never materialized, and when it did, it was right around Christmas. It was too little, too late, and I think it became way too promotional.
Steve Kernkraut
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