Steve Kernkraut
Steve Kernkraut
based below department earnings improvement quality rates reflects reported stores
They reported much better earnings than we suspected. It was all based on Fingerhut being better than plan. Department stores were actually below plan, so the quality of that (earnings) improvement reflects better delinquency rates than anticipated.
apparel department focused seeing specialty stores strength
I think you're seeing strength in the department stores, but more so than just the department stores, the specialty apparel stores that have a more focused brand.
caused companies great hear investors issue negative players signal tech worries
We're in a marketplace where any kind of negative signal worries people. The same way some of the tech companies caused a ripple, I think investors hear Lowe's issue a warning, hear what's going on with one of the great players in the sector, and they get nervous.
concerned concerning consumer fall fashion gas general rising somewhat totally
I think they made a lot of fashion changes, but there's been a general malaise in women's fashion apparel. What's somewhat concerning here is that Nordstrom has transitioned totally to fall earlier. Is their fashion not on target, or is the consumer really concerned about the rising gas prices?
miraculous second
I think they're only in the first or second inning of a turnaround. They've done a miraculous job, but I think there's much more to come.
asian bring buy cost flu goods great happening positive retail retailers sector states united
I think the retail sector is a great sector to buy because they don't have any of these Asian flu syndrome. I mean, all the things that are happening in Asia right now are positive to retailers because a lot of these retailers -- their cost will go down and they'll be able to bring goods into the United States at a lower...cost basis.
good move
I think this is a good move, the right move to make.
april break company ground march next pragmatic stage strengths view weaknesses year
I think it was a realistic, pragmatic view of what the strengths and weaknesses of the company are. He didn't break new ground with the initiatives, but directionally I think he set the stage for change, and I think by March or April of next year we'll see a change.
christmas companies hard messy others shape strong thanksgiving
It's going to shape up to be a real messy Christmas season. It's very hard to read. Some companies had a very strong Thanksgiving weekend, others weak.
america consumer hard pocket spending
The consumer in America is just spending and they're spending with abandon. It's very hard to find a pocket . . . where the consumer is not spending.
amount came impressed numbers short walk
The numbers that came out were surprisingly strong. You have to walk away impressed with what they've been able to do in a short amount of time.
area bigger fashion jewelry leverage totally traffic whether
They must do something that's going to leverage traffic in the mall. They can't get totally away from fashion. They've got to come up with something else whether its making the jewelry area bigger or making the denim area bigger.
consumer fall kids longer season thinking wait
It really is very weather-sensitive. You've got to psych the consumer into thinking the fall is coming. And the season is longer because kids wait to see what other kids are wearing.
holiday lifted momentum strong thanksgiving weekend
Thanksgiving weekend was strong and that lifted a lot of the retailers' results. I think they have momentum going into the holiday season.