I expect this number to rise toward the end of the year. At the same time jobs and wages won't rise fast enough to offer relief to already overstretched consumers. This could hurt retail spending in the second-half.
More Quotes from Richard Hastings:
Management is concerned about return on invested capital and return on shareholder equity and that's the focus. Everything else takes a backseat to that.Richard Hastings
Their third-quarter profit was supported by a really solid quarter at Sam's Club. This shows again why Sam's matters so much to Wal-Mart's consolidated profitability, ... Smoother performance at Sam's has been a big plus recently, and it has to hold up in order to offset the rising influence of supermarket margins from the other division.
Richard Hastings
But higher costs were enough to hit operating income in the quarter, which grew only 7 percent, compared to a 7.4 growth rate for the comparable nine months. Despite these issues, the quarter held up very well and the holiday quarter should hold up nicely,
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
Wet Seal is a turnaround situation that has been helped by strong industry vendor credit support and solid communications with their vendors.
Richard Hastings
I think it's kind of funny they're changing roles, but I'm also getting the impression that, over the past two years, there seems to be a trend to moving top management around so they get more well-rounded experience. I think that's a good move and maybe a part of the company's succession plan.
Richard Hastings
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