Steve Kernkraut
Steve Kernkraut
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.
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.
backlash certainly generally higher negative numbers oil outlook overall pockets september strength
The September numbers were generally on track, there were pockets of strength and there were some weaknesses. The numbers overall were not horrendous, but overall certainly the outlook could have more of a negative backlash from the higher oil prices.
good move
I think this is a good move, the right move to make.
filled hard heat people polar sell stores wearing
Most stores are filled with polar fleece and sweaters, but in 85-degree heat when people are wearing shorts, it's hard to sell those items.
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.
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.
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.
became business expectation
The expectation is that it's going to be a very disappointing season. Business never materialized, and when it did, it was right around Christmas. It was too little, too late, and I think it became way too promotional.
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.
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.
alan assessment best business ceo ceos charge coming customer emotional fair given internet involved likes position proven taken turned winner
Alan is a proven winner in every business he's been involved in. He's turned around Sears credit, he's taken charge of their Internet business and given it life, and he's been able to reorganize their home-services business. Probably the best part about him is he's coming into his position as CEO and he understands how CEOs work, but he doesn't have the emotional bias. He can make a kind of fair assessment about what the customer likes and what he doesn't.
bras business companies create internet lingerie margins narrow profitable underwear
Any business they do on the Internet is going to be very profitable for them. They have the infrastructure. They don't have to create it. And additionally, the profit margins on their bras and underwear and lingerie are spectacular, while the other e-commerce companies have very narrow margins.
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.