Kurt Barnard
Kurt Barnard
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February is a testing month for spring, and the results have not been spectacular, ... There seems to be a sense of foreboding that while spring is likely to be a smidgen better than we have seen in past months, it is not going to be a barn-burner.
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The weather was a factor and the effects of higher gasoline prices are finally catching up with retailers at the registers. Beyond that, I think we're likely to see softness for the next two to three months.
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It seems to be that a lot of these large chains are gravitating toward the advantages inherent in joint buying and obtaining lower prices and saving a lot of money in the process, ... ...It is very likely to be a powerful weapon in the retailer's arsenal to reduce the cost of buying and operating. And given the world of the Internet, which makes possible these alliances, it has to be recognized that consumers will find it so much easier these days to compare prices because all they have to do is click away.
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The outlook is for a muted third quarter, and also fourth quarter. It's not getting any worse in our opinion. We believe that consumer spending has essentially bottomed out. That does not mean consumers are ready to go on a spending spree or a buying binge. Things are likely to remain at their current level.
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From what I've seen, Sears is well underway to making itself into a more efficient and a more pleasant-to-shop retail establishment. It is likely to become a powerhouse in the mass-market arena and perhaps look a little bit like a combination of a large discount store and Kohl's.
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The first half is going to be a very, very difficult one, and at this moment it's going to be impossible to say how the second half is going to be, ... The second half is likely to be better than the first, but remember, most retailers are coming off a very weak Christmas and that puts tremendous pressure on gross margins.
core profitable
It's not a core business, but (gardening) is a very profitable part of the business.
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E-commerce is growing exponentially, and it is not at all unreasonable to think that simply because the store essentially, or a whole horizon of stores, happens to be right on your desk, that shopping is made so much easier than before,
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Everybody is worried about a soft landing for the economy and a contraction of consumer spending. And come Christmas it will be far less exciting than a year ago. The high cost at the gas pump is beginning to take its toll and for a lot of families spending an extra $20-to-$25 a month on gasoline means spending that much less on stores.
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The blizzard was a serious setback for retailers, especially since the Presidents Day weekend is a major day for sales. Most of the malls and independent stores were shut in the Northeast.
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The bigger it gets, the smaller the percentage growth will be. Let's say that when you add 10 new stores to 100 stores, you grow the business 10 percent. When you add 10 stores to 3,000 stores, the growth isn't obvious.
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The August figures this time are basically not very reliable for anything whatsoever. A lot of the Labor Day activity will come in September this year.
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There's tremendous demand for anything related to gardening, horticulture. It means dollar signs at the cash register.
comfort industry rest
The rest of the industry can take comfort from Wal-Mart's projections,