It's an uncomfortable forecast to the extent that nothing else seems to be going the right way for the economy, and ultimately, how can that support a decent-to-okay kind of Christmas ... That's the question. Four percent is not aggressive, but it does suggest improvement over last year.
More Quotes from Michael Niemira:
While retailers are pleased with (Christmas) performance, the holiday shopping season is far from over, since about 60 percent of gift-card redemptions occur between Dec. 26 and the end of January.Michael Niemira
The bottom line today is that the economy is improving and the consumer is much more confident, ... This storm undoubtedly will hurt sales, especially on Saturday, but it could also trigger a different response where it shifts demand to other channels such as the Internet, catalogs and to gift cards.
Michael Niemira
You can't sustain an economy driven only by motor vehicle purchases. We're looking for business spending to rise in order to be confident about the second leg of the expansion going forth and, with it, the duration of expansion.
Michael Niemira
Sales are going the way they did in the last two years, which was after Thanksgiving, things settled down. But we also see, I think, the power of weather on these numbers.
Michael Niemira
Luxury has a strong run and it will slow down in 2005. This is more a function of the natural rhythm of retail spending.
Michael Niemira
It shows a relatively healthy sales picture. The question is how will the consumer react when oil prices filter through the rest of the economy.
Michael Niemira
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