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.
More Quotes from Bill Dreher:
There's very little excuse for anyone posting weak sales right now, ... If that is happening, it because of company specific excuses. The macro environment overall is very strong. The first month of the quarter got a stellar start and that usually put a lock on the rest of the quarter. Retailers should post improved earnings going forward.Bill Dreher
We believe this update is a combination of management's typical conservatism and sales sluggishness from the unusually warm weather,
Bill Dreher
Wal-Mart's cautious comments are warranted, ... Even though its problems are not company-specific, it does bode badly for the profits and sales across the retail chain in the back half of the year.
Bill Dreher
I think high-end retail sales will get a boost from this news.
Bill Dreher
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.
Bill Dreher
Consumers were not in the holiday spirit up until the last week of the holiday season, when there was a mad rush for the store, ... And the big unknown is the result of that game of chicken, where shoppers waited until the last minute to get the best bargains and retailers held off.
Bill Dreher
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