They're telling us to pull our number down by 4 cents (per share).
More Quotes from Bill Dreher:
All the department stores we talked to admit quite clearly it's an unprecedented environment, and they have no direct comparison in being able to plan. It makes their job very, very difficult.Bill Dreher
I think there's a lot of confusion about the state of the consumer. We had weak numbers in January. February sales were pushed down by horrible weather, and now March could be weak because of the Easter shift. It's difficult to see how things are going to turn out.
Bill Dreher
Wal-Mart is a more mature company today and is showing its willingness to be more open with the press, ... From investors' point of view, this is very good news. All the negative publicity has pressured the stock. Maybe this move will help take away some of that 'headline' risk acting on the stock.
Bill Dreher
Wal-Mart and Target continue to prove that they can operate well in this challenging retail environment and deliver profits despite modest to weak sales results.
Bill Dreher
Discount stores have really become an increasing portion of consumers' expenditures. Now there's talk of fluctuating energy prices, job layoffs, and people are looking for the best value possible, ... So we believe the discount stores are going to benefit disproportionately from the tax rebate. We expect Wal-Mart will be the leader in July.
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
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