Delos Smith
Delos Smith
based consumers fourth july needs nice salary spending starts wage
Consumers had a nice July and August. Unfortunately, they're on their own for the fourth quarter, which starts on Wednesday. Going into 2004, spending is going to be based on wage and salary growth, which needs a boost.
cash hard looks nice perfect perspective register seeing shopping start until
It looks like a nice start but it's hard to tell, hard to have a perspective until we start seeing the cash register receipts. It's hard to tell, but it's perfect shopping weather.
bad christmas country forget material
It's a bad Christmas if you're a retailer. It's not a material Christmas. You can't forget this. I don't think the country can forget it.
good nervous year
We had a very good year in 2005. But it was a nervous world.
economic function largest longer major market state systems
There are no longer really state economic systems that can function by themselves. Most of our largest corporations are in every major market in the world. We're intertwined.
eat expenses movies normally people theaters
We're going to see people trimming their expenses here and there. They probably will not eat out as much or go to movies as often as they normally would. So restaurants and theaters are also vulnerable.
adjust consumers economic economy economy-and-economics growth mean view
We boosted economic growth in one quarter, but that doesn't mean it's sustainable. We still have a long-range view that the economy is changing, and consumers will have to adjust to it.
happened last moderate shows steady
When you take a look at what's happened in the last month, you see the same kind of pace?right on down the line. It shows a nice, steady moderate pace, which is what you want.
concerns darkness parts
There are parts of the world that are in darkness and that concerns me.
consumer defensive nervous uncertain
You do have a defensive consumer. If the consumer is very nervous and uncertain about what is going to be happening, you don't know how they're going to react.
fox hours msnbc people pounding war
A lot of people don't read newspapers, and we don't have 24 hours a day of CNN, MSNBC and Fox just pounding you with war news.
aware relief
They're getting nervous. They're getting angry. They have not really done anything about it because they want to see if there's going to be relief for it. But now they're aware of it.
cnn longer mood retail suspense
As long as suspense lingers, you will have a longer CNN effect. That's not what you want -- mood is very important for the retail world.
buy consumer consumers current everybody involved people pleasure
You want the consumer buoyant. Most consumers are not current-events oriented. When you get everybody involved in current events, when they usually are not, then people are not going to go out and buy things just for pleasure of it.