Kurt Barnard
Kurt Barnard
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Sears is now giving evidence that its new marketing strategy and new slogan work very effectively.
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What J.C. Penney needs to do is to make the stores they do have palatable, pleasant to shop, and all of this needs to be done with an eye toward recapturing the market they've lost,
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What we are looking at is very strong and very necessary steps as the first installment of a Kmart turnaround, ... What he's doing right now is terribly important. It needed to be done, biting into the sour apple so to speak, in order to create a clear path for the future. I think Kmart is going to be customer-centric in the future, competitive in the market place and exciting to shop.
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Consumers are already concerned that the labor market continues to lag behind an economic recovery. They don't really need another negative distraction.
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Tommy is in trouble, ... The casual wear market is already saturated and profits are slumping. Let's see what Dyer can do.
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Amazon's prospects, in my view, are at best limited. They may do some wonderful things, but the market isn't there. It's like a jockey beating a horse with three legs.
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All apparel-based retailers got creamed. They lost much of their market share to discounters.
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They are taking big bites of market share out of the sneakers. The sneaker business is a mature business that represents primarily a replacement mode. People mainly buy sneakers when the old ones wear out.
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High-end stores depend on continued spending from clients that over the past four years have amassed considerable wealth. Sales at upscale stores like Saks and Neiman Marcus are also going strong because the stock market has been very customer friendly to this group.
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The key for them is the marketing of a new and totally different identity from Wal-Mart or Target or anybody else, ... They have to create their own distinctive identity. The kind that will make you and me wake up in the morning and say, 'I need a new pair of pajamas -- I think I'll go to Kmart.'
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What the Gap is doing is not only what it must be doing, but what it should have done a long time ago.
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What's happening is very simple. The numbers we saw today are clear evidence that the American public is shell-shocked to the point of being frightened over a big long list of circumstances surrounding the economy over which they have no power, no control.
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The worst part of these results is that they show that the effect of the tax rebate checks has petered out. This is a nightmare in itself for retailers and it doesn't bode well for Christmas. Also, we'll probably see more markdowns now, more than retailers anticipated for the holidays. That will hurt their bottom line.
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They are all planning very cautiously, very carefully. Some companies have very decent inventory controls, but however good those controls are they still have to do some economic forecasting, and forecasting is a little difficult this time around. Nobody is going to spring for big orders until there's evidence that consumer demand is back, and there is no such evidence to date.