The outlook for them this year is the best it's been in about the last three years.
More Quotes from Richard Hastings:
It's great if you attract lower income shoppers looking for low prices, but what if those shoppers who were really struggling between 2000 and 2003 now have jobs They might be spending more and looking for different merchandise...maybe something Wal-Mart doesn't have.Richard Hastings
July sales were weaker than expected. Summer can be a volatile season for retailers but I am a little surprised by the weakness in apparel. I'll be keeping an eye on discretionary spending going forward.
Richard Hastings
The capital markets are so liquid, despite some of the increase in borrowing costs, that they create wonderful choices for consumer companies like Tommy Hilfiger and J. Crew to go private, ... break themselves into pieces, gobble someone else's pieces or just try to raise money to get bigger.
Richard Hastings
Gift cards are like proprietary currency issued by a retailer. The intention is to get a potentially new consumer to come in and trade in that currency and try new merchandise. We're seeing retailers across the spectrum doing as much as possible to promote them.
Richard Hastings
Unlike Europe, Asian markets are more receptive to big-box formats, ... The model of relationships between households, labor, production, the market and resources are more easy to replicate there.
Richard Hastings
There are five business days until the comparable-store sales figures come out. Stores will be assessing things, and we could see some warnings, if they haven't done well.
Richard Hastings
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