Ken Perkins
Ken Perkins
began compared couple department group improving november percent performance positive profits quarters rise rose sales seen since stores tracking year
We haven't seen this kind of positive sales performance since we began tracking the group in November 2000. Fourth-quarter profits for department stores rose 5 percent compared to a 1 percent rise a year ago. We've now has a couple of quarters of improving trends.
consumer finding last resilient ways year
The American consumer has been particularly resilient over the last year plus, ... They're finding ways to spend.
appear commerce conditions economic improved iraq last march month people run shopping year
Economic conditions have improved significantly from March last year when commerce was impeded for much of the month by the run up to the Iraq war. People do appear to be shopping more.
built carry despite everybody holiday momentum next tough waiting whether year
Everybody is waiting to see whether they can carry the momentum they've built this year into next year despite the tough holiday period.
both difficult facing form gain hurdle last limited percent retailers seen september year
We've already seen some big disappointments in both Limited and Ann Taylor. Up front, retailers are also facing their most difficult hurdle of the year in the form of a 6.1 percent gain racked up in September last year.
against earnings growth half next second steep year
The deceleration in earnings growth is a significant concern. Techs are up against steep comparisons in the second half of this year and the first half of next year,
double earnings good increases last ok quarters third year
The first two quarters of last year were OK but not stellar. If we still have double digit increases in earnings during the third quarter, that would be good news.
april december easter gain last low percent prior pushed sales time year
The last time Wal-Mart had a monthly same-store sales gain that low was back in December of 2000, with a 0.3 percent rise. Prior to that was in April of 1996, with a 0.2 percent gain. That was probably another year when Easter got pushed into April.
earnings less order strong tech
Earnings are going to have to really go up in order for valuations to look attractive. Tech earnings are going to be strong but it's already more or less priced into the stocks,
christmas concern deep goes hitting
There's a deep concern that if this thing goes on, a lot of Christmas merchandise hitting the docks can't be transferred.
came carried marketing retailers sales strength
Sales really carried through at the end of the season, particularly for the mall-based stores. Some of the strength probably came from retailers really aggressively marketing and being really promotional.
apparel casual clothes frequently men sales shop
Sales of men's apparel has been lagging for some time. Men usually don't shop as frequently as women. When they do, there's only so much of casual clothes men really need.
bubble business extent given hang hat pickup previous profits rebound recovery spending
Profits are on the rebound but is it sustainable? Given the extent of the previous bubble in tech, the recovery should be slower. There's a whiff of a pickup in business spending but not enough to hang your hat on just yet.
aggressive best buy circuit city held holiday looks moving player players primary share taking tried
Best Buy traditionally has been the primary player here and taking share very aggressively from some of the other players in the space, but Circuit City looks to have held their own here this holiday season. The discounters have tried to get into the space. Wal-Mart's been very aggressive in moving in there.