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,
More Quotes from 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
They are admitting they have very cloudy visibility on the very critical holiday season. What might be more significant to investors is that even though they had an admittedly superb second quarter, where are we going from here
Bill Dreher
We believe our competitors have shown irrational exuberance with Christmas forecasts, ... We believe the average consumer is worried about higher gasoline prices, jobs and doesn't believe he will benefit from the stock market. With this climate, if you're just a 'me-too' retailer, you'll be in a world of hurt. The department stores will suffer but the discounters Wal-Mart and Target will do well.
Bill Dreher
Even Wal-Mart, with their superior systems, their ability to analyze information, being able to predict sales down to the SKU and generate customer profiles, doesn't have good visibility of what's going on in 2001, which makes us concerned about the guys who don't have that ability,
Bill Dreher
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.
Bill Dreher
We knew today was going to be a disaster. What surprises us was how bad it was was.
Bill Dreher
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