Bill Dreher
Bill Dreher
division expected limited market percent share steal total
While Kohl's is expected to steal market share from Mervyn's, it should be limited to 1 to 2 percent of total division shares.
focused income
I don't think it's a Wal-Mart problem. It's a demographic problem. If you were focused on the moderate-income sector, you were disappointed.
affected areas days expect given impossible lose nearly roads sales severity stores
Given the severity of the storm, we expect that stores in the affected areas could lose up to two days of sales as roads were nearly impossible to navigate.
began concerned investor sponsored woo
Historically, Wal-Mart has only been concerned about the consumer. But 12 years ago, Wal-Mart began to woo the investor and sponsored fieldtrips to their headquarters. These were tremendously successful,
alan bad confidence convinced dealing deceitful department feeling head hiding investor restore sounds tackling
He (Lacy) was dealing with a deceitful department head who sounds like he was hiding some bad news, ... Our feeling is Alan Lacy is being very forthcoming and straightforward with the problems, and is tackling them very aggressively. But we're not convinced that's going to be enough to immediately restore investor confidence in shares.
absorb definitely others period position retailers though tough
Even though Wal-Mart is definitely in a better position than most retailers to absorb any shortfalls, others could be in for a very tough period ahead.
appears coming confidence consumer data economic far income levels oil pause period positive prices rising sales slowing taking
There appears to be a pause in consumer spending, especially with the low-to-middle income consumers. The slowing sales also counterbalance positive economic data that show rising income and confidence levels and oil prices coming down. As far as sales go, this is a period where the consumer is taking a break.
concern consumer gasoline hurting inflation last months several
There has been real concern for the last several months about hurricanes, about consumer sentiment, about gasoline inflation hurting consumer spending,
believe button cause closer dealing declines earlier increase inventory panic percent possible push retailers sales
On its own, a comp-store inventory increase of 2-to-5 percent is no big deal. But when you've got comp-store sales declines of closer to 10 percent, you're dealing with a possible 10-point spread, which we believe is going to cause retailers to push the promotional panic button earlier than they would have.
chasing losing money point sales
There's no point in chasing sales if you're losing money on those sales.
basis break business cash cost costs run tire total
The tire business did break even on a cash basis but not on a full-loaded cost basis, or the total costs incurred to run that business.
accept annual clear closer deep false management meeting might sober though willing work
It was very clear to us that ... this year's annual meeting had a new, more sober tone. In the past, (Wal-Mart management) was willing to accept their shortcomings, though some might say it was closer to false modesty. This year, it was very clear that management realizes they have a lot of work to do and are deep into the transition.
appears form holiday season
The shopper appears to be in mid-season form with the holiday season just having started.
concerned economy investors stock weaker
The stock is manipulated by perceptions of the future, and investors are very concerned right now that the economy is weaker than we thought. Wal-Mart is doing a superb job. On other the hand, the stock is vulnerable.