These numbers come on the back of heavy discounting. The back-to-school period also fueled results. Beyond that, the situation last year in July wasn't good. So retailers were up against much easier comparisons.
More Quotes from Kurt Barnard:
It seems to be that a lot of these large chains are gravitating toward the advantages inherent in joint buying and obtaining lower prices and saving a lot of money in the process, ... ... It is very likely to be a powerful weapon in the retailer's arsenal to reduce the cost of buying and operating. And given the world of the Internet, which makes possible these alliances, it has to be recognized that consumers will find it so much easier these days to compare prices because all they have to do is click away.Kurt Barnard
Demand is great simply because home sales have been going through the roof, and every time a home is occupied for the first time, usually tens of thousands of dollars are spent on furnishing it and refurbishing it,
Kurt Barnard
The bigger it gets, the smaller the percentage growth will be. Let's say that when you add 10 new stores to 100 stores, you grow the business 10 percent. When you add 10 stores to 3,000 stores, the growth isn't obvious.
Kurt Barnard
They are taking big bites of market share out of the sneakers. The sneaker business is a mature business that represents primarily a replacement mode. People mainly buy sneakers when the old ones wear out.
Kurt Barnard
Don't get carried away with this whole thing. It's considerably bigger than in times past, but it is not the kind of thing I would say that will make or break a company's quarter.
Kurt Barnard
What J.C. Penney needs to do is to make the stores they do have palatable, pleasant to shop, and all of this needs to be done with an eye toward recapturing the market they've lost,
Kurt Barnard
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