Kurt Barnard
Kurt Barnard
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It is a coming back down to earth. About two or three months ago, the world was swept up by the notion that the economic recession is over and the good times are rolling again. That meant consumers would be knocking down the doors of retailers the way they did a few years ago. But guess what? It ain't happening.
believe buying consumer consumers current fourth likely mean outlook ready remain spending third worse
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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The demand for the 'luxury look' is back. Americans want to be fashionable and elegantly dressed but that doesn't mean they want to go broke in the process, ... Consumers know that they can get that well-dressed look for an affordable price, and that's why the specialty apparel chains like Gap ( GPS : Research , Estimates ) and Ann Taylor ( ANN : Research , Estimates ) are performing well.
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His capture is extremely meaningful for Iraq and the Arab world, but as far as the U.S. consumer is concerned, it doesn't mean much.
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It will lend luster to the mall, ... This means Indianapolis has the demographics to support a Tiffany.
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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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There's tremendous demand for anything related to gardening, horticulture. It means dollar signs at the cash register.
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Americans are being bombarded with announcements of layoffs. Anytime you listen to the radio it's always 3,000 laid off here, 500 there, ... That means a lot of people who have decent jobs and good income hear that little voice in the back of their head asking the question 'could my number be up next?' They're buying what they need, but they don't buy frivolously.
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While it's true that Sears is stuck in a sales slump for a long time, the retailer has also been in a restructuring mode, ... By getting rid of the credit business, it can finally devote all its resources to its core business. I'm convinced Sears will deliver impressive results in the next six to 12 months.
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There has been, and continues to be, a strong shift of consumer spending away from traditional department stores and specialty stores over to discount stores.
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This trend is going to be with us for the foreseeable future. Growth will continue and will be very strong, but it will be more moderate than it was last year, ... Make no mistake about it - this growth will continue. Consumer spending will continue to grow, but it's not going to suddenly stop or go back. It will continue at a more reasonable pace.
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What Sept. 11 has done to the economy is to accelerate, hasten and deepen the decline, but the decline existed before. The attack gave it the extra push in terms of retail sales. If you don't have a paycheck coming in, it doesn't matter how much cost of gasoline has gone down.
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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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With gas prices the way they are and with people suddenly being burdened with monthly car payments, they are looking for bargains. People are taking their money from Bloomingdale's to Penney, Kohl's (NYSE: KSS - news ) and Target (NYSE: TGT - news ).