Bill Dreher
Bill Dreher
across badly cautious chain comments half problems profits retail sales though
Wal-Mart's cautious comments are warranted. Even though its problems are not company-specific, it does bode badly for the profits and sales across the retail chain in the back half of the year.
across badly cautious chain comments half problems profits retail sales though
Wal-Mart's cautious comments are warranted, ... Even though its problems are not company-specific, it does bode badly for the profits and sales across the retail chain in the back half of the year.
continue disconnect fourth growth inventory major next problems quarter sales
Kohl's is having a major disconnect with its customers. The company's inventory growth is outpacing sales and I think their problems will continue into the fourth quarter and even the first quarter next year.
continue disconnect fourth growth inventory major next problems quarter sales
Kohl's is having a major disconnect with its customers, ... The company's inventory growth is outpacing sales and I think their problems will continue into the fourth quarter and even the first quarter next year.
acquiring card companies continues cost credit department gross improved improving lowering margin problems retailers seeing stores strong struggle target turnaround
The companies that are seeing strong gross margin improvements are getting it not from improving their merchandising mix, but from improved buying. Retailers like Wal-Mart and Target are lowering their cost of acquiring products. Sears on the other hand, continues to struggle with the turnaround of its department stores and problems with its credit card unit.
considered far financial impact item limited
It would be considered a non-operating item and really will have a very limited financial impact as far as analysts are concerned,
accept annual clear closer deep false management meeting might sober though willing work
It was very clear to us that ... this year's annual meeting had a new, more sober tone. In the past, (Wal-Mart management) was willing to accept their shortcomings, though some might say it was closer to false modesty. This year, it was very clear that management realizes they have a lot of work to do and are deep into the transition.
appears form holiday season
The shopper appears to be in mid-season form with the holiday season just having started.
concerned economy investors stock weaker
The stock is manipulated by perceptions of the future, and investors are very concerned right now that the economy is weaker than we thought. Wal-Mart is doing a superb job. On other the hand, the stock is vulnerable.
admittedly admitting cloudy critical holiday investors might second though visibility
They are admitting they have very cloudy visibility on the very critical holiday season. What might be more significant to investors is that even though they had an admittedly superb second quarter, where are we going from here?
buying christmas circle clearly confidence consumer decadent depress depressing four generous gift giving hog holiday issues levels numbers people presents question return shows spending three wide year
The same issues which are depressing the consumer confidence numbers are going to depress holiday sales, ... Christmas is going to show up this year as it shows up every year. The question is, how generous are people going to be? Are they going to go whole hog and return to the decadent spending levels of three or four years ago? No, clearly not. People are going to be buying toys, but how many presents they buy, how wide that circle of gift giving is really is in question.
chains department discount line mostly results sales
The sales results from the department and discount chains were mostly in line with expectations.
absorb definitely others period position retailers though tough
Even though Wal-Mart is definitely in a better position than most retailers to absorb any shortfalls, others could be in for a very tough period ahead.
believe benefit best discount energy expect increasing job leader looking people portion stores talk tax value
Discount stores have really become an increasing portion of consumers' expenditures. Now there's talk of fluctuating energy prices, job layoffs, and people are looking for the best value possible. So we believe the discount stores are going to benefit disproportionately from the tax rebate. We expect Wal-Mart will be the leader in July.