Bill Dreher
Bill Dreher
best clearly holiday news operators strong today
The news we got today was incrementally negative, even for the best operators out there. And clearly this does not bode well for a strong holiday season.
achieve aggressive allowed christmas clearly days despite lack last month plans promotions retailers sales saw strong
Clearly the last 10 days before Christmas were very strong and allowed retailers to achieve their sales plans for the month despite the lack of aggressive promotions we saw in 2002.
adding apparel brands continues fits food momentum name operating position sales strong success taking thesis tremendous
Wal-Mart continues to show strong momentum and operating performance. Its food and apparel sales did well, which fits in with our thesis that Wal-Mart is really taking on the supermarkets. By adding new apparel name brands like Levi's, I think it's in a position to see tremendous success in apparel too.
adding apparel brands continues fits food momentum name operating position sales strong success taking thesis tremendous
Wal-Mart continues to show strong momentum and operating performance, ... Its food and apparel sales did well, which fits in with our thesis that Wal-Mart is really taking on the supermarkets. By adding new apparel name brands like Levi's, I think it's in a position to see tremendous success in apparel too.
clear holiday prospects stronger wisdom
Wal-Mart has made it very clear that the prospects for this holiday are much stronger than the conventional wisdom would have had it.
customer discount earnings expect generating increases people price rational retailers sales seeing solid strong traffic
People are being much more rational with their expenditures. That's why we're seeing these discount price retailers generating strong customer traffic and solid sales increases. And we expect strong earnings increases from them.
adds consumer continues impact people safety spending stocks strong turns whatever worried
I think there continues to be a very strong psychological impact with people worried about their own safety and the safety of their families. I don't know what's going on with this flight, but whatever it turns out to be, it adds a significant psychological impact on consumer spending and on how the stocks behave.
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.
appeared bang consumer expecting flooded robust sales season september
The back-to-school season started with a bang and we're expecting robust sales in September because the consumer appeared to be flooded with cash.
intent last learned lessons repeating year
They've learned the lessons from last year and are intent upon not repeating the same mistakes.
anyone company earnings environment excuse improved lock month overall posting quarter rest retailers sales specific start stellar weak
There's very little excuse for anyone posting weak sales right now, ... If that is happening, it because of company specific excuses. The macro environment overall is very strong. The first month of the quarter got a stellar start and that usually put a lock on the rest of the quarter. Retailers should post improved earnings going forward.
lower translate
Not only is there top-line pressure, but this is also going to translate into lower margins,
advertising amazing best campaign cool discount job marketing pushing shop store target
Target has the best advertising marketing campaign in retailing. They do an amazing job of elevating a discount store to a very cool destination shop and so they are always pushing the envelope.
battery build clear company efforts itself management national sale step strengthen tire unit
It's clear that the company is redoubling efforts to strengthen itself and build a competitive advantage. Anything that distracts the management from doing just that will be de-emphasized. The sale of its National Tire and Battery unit is a step in that direction.