Michael Niemira
Michael Niemira
consumer continue credit hang major passive spend tends unless
Basically, the consumer will hang in there. Unless there's some kind of a major problem, the consumer tends to be more passive and will continue to spend if credit is available.
capital focus less meaningful ought pick spending worry
I think there's less worry on the consumer, and our focus ought to be more: 'Does business, capital spending pick up?'... That's much more meaningful going forward.
consumer relatively remained robust spending
Consumer spending has remained relatively robust into 2006.
cumulative effect higher pennies penny shock top week
Now there's a shock. It's not just a penny this week and two pennies higher the week before. And the shock comes on top of the cumulative effect of all those pennies over all those weeks.
bit gain holiday message momentum move numbers overall positive pricing side stronger suspect trends
I suspect that a little bit of the gain is attributed to stronger pricing power, but overall the trends are very positive for retailers. The message from these numbers is that momentum is on the retailers' side as we move into the holiday season.
industry performance
It's a decent-to-moderate performance for the industry as a whole.
days redemption
Redemption days are going to be very important this year.
consumers helped holiday late lift
Procrastinating consumers and a late Hanukkah (December 25) helped to lift the holiday season's performance.
consumers headed holiday promotions provided retailers season selling
As the 'traditional' holiday selling season got underway on Friday, consumers headed to those retailers who provided promotions and discounts.
continue despite energy impressive remain sales trends worries
Despite all the worries on the energy front, sales trends continue to be impressive and remain strong.
driven holiday largely promotions provide retailers season start strength strong
The strength was largely driven by promotions and did not provide as strong of a start to the holiday season as some retailers would have liked.
goods industry initially pick problem retailers sales selling spread start
I think initially the industry will try to keep the discounts more narrowly focused. The problem is, if sales don't pick up, retailers will start to spread out discounts to those goods not selling as well.
broader costs decent doubt economy financial growth happens later markets negatives profits remains summer time whether work
No doubt the financial markets are anticipating that something could change. Whether that happens this summer or later remains to be seen, ... There are some broader negatives in the economy right now but the they will take a long time to work through. For now, we can still get decent growth in profits even as costs rise.
backdrop beginning holiday lots november remains
There was lots and lots of discounting this holiday season. From the beginning of November onward, it was very promotional and remains a backdrop for the season.