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We're already seeing heavy markdowns particularly in apparel, - Richard Hastings Quotes

We're already seeing heavy markdowns particularly in apparel,

Richard Hastings

We're already seeing heavy markdowns particularly in apparel. - Richard Hastings Quotes

We're already seeing heavy markdowns particularly in apparel.

Richard Hastings

There are five business days until the comparable-store sales figures come out. Stores will be assessing things, and we could see some warnings, if they haven't done well. - Richard Hastings Quotes

There are five business days until the comparable-store sales figures come out. Stores will be assessing things, and we could see some warnings, if they haven't done well.

Richard Hastings

Consumers are benefiting from a combination of tax stimulus, new products, good apparel fashions and compelling prices. - Richard Hastings Quotes

Consumers are benefiting from a combination of tax stimulus, new products, good apparel fashions and compelling prices.

Richard Hastings

Prices are much firmer in the high-end product arena than in the moderate price discount arena. - Richard Hastings Quotes

Prices are much firmer in the high-end product arena than in the moderate price discount arena.

Richard Hastings

Mass merchandising and discount retailing is moving in a big way toward private labels and exclusive designer brands, ... That Wal-Mart is rumored to be contemplating something like this is logical, given the trend in the industry. - Richard Hastings Quotes

Mass merchandising and discount retailing is moving in a big way toward private labels and exclusive designer brands, ... That Wal-Mart is rumored to be contemplating something like this is logical, given the trend in the industry.

Richard Hastings

The company is showing stable business improvement and there's a higher probability the stock will shoot higher in the near-term. - Richard Hastings Quotes

The company is showing stable business improvement and there's a higher probability the stock will shoot higher in the near-term.

Richard Hastings

Weaker spending on seasonal goods has been building up for four months now. The two factors hurting consumers particularly at the low- and middle-income levels are that wages have not grown and gasoline prices could go even higher. - Richard Hastings Quotes

Weaker spending on seasonal goods has been building up for four months now. The two factors hurting consumers particularly at the low- and middle-income levels are that wages have not grown and gasoline prices could go even higher.

Richard Hastings

I'm expecting the holidays to be a stimulating environment for (sales) growth, ... But the deeper discounts could also mean that profit margins will be off for some retailers. - Richard Hastings Quotes

I'm expecting the holidays to be a stimulating environment for (sales) growth, ... But the deeper discounts could also mean that profit margins will be off for some retailers.

Richard Hastings

China could choose to retaliate against yesterday's announcement by hiking up prices on a key export to the U.S. or suspending purchase of certain commodities from the U.S, - Richard Hastings Quotes

China could choose to retaliate against yesterday's announcement by hiking up prices on a key export to the U.S. or suspending purchase of certain commodities from the U.S,

Richard Hastings

Will the anticipation of more expensive bills hurt holiday sales? I don't think so. I think consumer spending will see more of a marginal change rather than a substantial change, primarily at the lower-income level. - Richard Hastings Quotes

Will the anticipation of more expensive bills hurt holiday sales? I don't think so. I think consumer spending will see more of a marginal change rather than a substantial change, primarily at the lower-income level.

Richard Hastings

I continue to believe that the effects of higher gas prices on the consumer are overestimated. Most of the important measures of discretionary spending such as furniture, lawn and garden and food sales held up nicely. - Richard Hastings Quotes

I continue to believe that the effects of higher gas prices on the consumer are overestimated. Most of the important measures of discretionary spending such as furniture, lawn and garden and food sales held up nicely.

Richard Hastings

Being a public company ain't fun. Retailers are fleeing for the private universe, because they speak a different language than [Wall Street] analysts. There's a dynamic volatility that retailers are comfortable with, and that really tests their patience when they deal with the urge toward smoothness and predictability that analysts want. There are a lot more people in private investment banking who understand your language. - Richard Hastings Quotes

Being a public company ain't fun. Retailers are fleeing for the private universe, because they speak a different language than [Wall Street] analysts. There's a dynamic volatility that retailers are comfortable with, and that really tests their patience when they deal with the urge toward smoothness and predictability that analysts want. There are a lot more people in private investment banking who understand your language.

Richard Hastings

This is a favorable development for Saks and a big improvement to its balance sheet, which shows a lot of debt leverage, - Richard Hastings Quotes

This is a favorable development for Saks and a big improvement to its balance sheet, which shows a lot of debt leverage,

Richard Hastings

Consumers have a way of pulling it together for the holidays. We could see weakness in apparel and footwear sales but electronics, entertainment products and gift cards could do very well in the fourth quarter. - Richard Hastings Quotes

Consumers have a way of pulling it together for the holidays. We could see weakness in apparel and footwear sales but electronics, entertainment products and gift cards could do very well in the fourth quarter.

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 Quotes

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

What's holding up the consumer is habit. Until things change in a very material manner, American consumers won't alter their shopping habits significantly. The jobs market is strong and there's been a little bit of improvement in wage growth. I still don't believe that gas prices are high enough to derail consumers. If there is one thing that could shake consumers it's the housing market and not gas inflation. - Richard Hastings Quotes

What's holding up the consumer is habit. Until things change in a very material manner, American consumers won't alter their shopping habits significantly. The jobs market is strong and there's been a little bit of improvement in wage growth. I still don't believe that gas prices are high enough to derail consumers. If there is one thing that could shake consumers it's the housing market and not gas inflation.

Richard Hastings

They're paying attention to their problems. They are aware that when it comes to store-level execution there are problems and they're paying attention to it. - Richard Hastings Quotes

They're paying attention to their problems. They are aware that when it comes to store-level execution there are problems and they're paying attention to it.

Richard Hastings

Management has been defending the brand. If we look at the last six years, it's become clear that they have made no progress.

Richard Hastings

This remains one of the most interesting major retailing case studies in the past 20 years. - Richard Hastings Quotes

This remains one of the most interesting major retailing case studies in the past 20 years.

Richard Hastings

Past

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 Quotes

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

Focus

This is about putting your career on the line. They need to go in there and do something really dramatic to retool the business. - Richard Hastings Quotes

This is about putting your career on the line. They need to go in there and do something really dramatic to retool the business.

Richard Hastings

The assortments weren't there when cold weather snapped back, and shoppers were curious about something other than a bikini to match their mittens. - Richard Hastings Quotes

The assortments weren't there when cold weather snapped back, and shoppers were curious about something other than a bikini to match their mittens.

Richard Hastings

All that a week ago was neatly put out there. Today Mother Nature took all of it. - Richard Hastings Quotes

All that a week ago was neatly put out there. Today Mother Nature took all of it.

Richard Hastings

Where there is pressure there is change, universally. - Richard Hastings Quotes

Where there is pressure there is change, universally.

Richard Hastings

This holiday season Wal-Mart hasn't been able to differentiate itself from the competition or really take advantage of the early wave of promotional activity. - Richard Hastings Quotes

This holiday season Wal-Mart hasn't been able to differentiate itself from the competition or really take advantage of the early wave of promotional activity.

Richard Hastings

The store of the future will be more of a 'do-it-itself' event with not much human interaction. These new systems will eventually be able to recognize your tastes and preferences and what you like to buy better than you yourself know. - Richard Hastings Quotes

The store of the future will be more of a 'do-it-itself' event with not much human interaction. These new systems will eventually be able to recognize your tastes and preferences and what you like to buy better than you yourself know.

Richard Hastings

Consumers have a way of pulling it together for the holidays. - Richard Hastings Quotes

Consumers have a way of pulling it together for the holidays.

Richard Hastings

For a company doing about $19?$20 billion in sales, this is not a big float. - Richard Hastings Quotes

For a company doing about $19?$20 billion in sales, this is not a big float.

Richard Hastings

It's just a number. Vendors are worried about getting purchase orders, and getting paid. That's a real concern. But investors are worried about getting on the momentum express before it leaves the station. - Richard Hastings Quotes

It's just a number. Vendors are worried about getting purchase orders, and getting paid. That's a real concern. But investors are worried about getting on the momentum express before it leaves the station.

Richard Hastings

The holiday is clearly growing in importance for the industry. Halloween is fun, enjoyable and doesn't require a big investment to celebrate. The primary focus is the child and families typically do all they can to make sure the children have fun. - Richard Hastings Quotes

The holiday is clearly growing in importance for the industry. Halloween is fun, enjoyable and doesn't require a big investment to celebrate. The primary focus is the child and families typically do all they can to make sure the children have fun.

Richard Hastings

Fun

Halloween will be a slam-dunk for merchants despite the weakening consumer spending trends. - Richard Hastings Quotes

Halloween will be a slam-dunk for merchants despite the weakening consumer spending trends.

Richard Hastings

July sales were weaker than expected. Summer can be a volatile season for retailers but I am a little surprised by the weakness in apparel. I'll be keeping an eye on discretionary spending going forward. - Richard Hastings Quotes

July sales were weaker than expected. Summer can be a volatile season for retailers but I am a little surprised by the weakness in apparel. I'll be keeping an eye on discretionary spending going forward.

Richard Hastings

Sales

To be concerned about the strength of consumer spending is wise. Wal-Mart as a barometer of consumer spending is significant. Consumer spending will start to moderate off of its hot pace in the second-half of the year. - Richard Hastings Quotes

To be concerned about the strength of consumer spending is wise. Wal-Mart as a barometer of consumer spending is significant. Consumer spending will start to moderate off of its hot pace in the second-half of the year.

Richard Hastings

One area of trouble in consumer spending is households and individuals with weakening credit profiles. So far it's not yet a majority of households but the number of consumers in credit distress is on the increase. That's something to keep an eye on, - Richard Hastings Quotes

One area of trouble in consumer spending is households and individuals with weakening credit profiles. So far it's not yet a majority of households but the number of consumers in credit distress is on the increase. That's something to keep an eye on,

Richard Hastings

On shopping networks, people model the products, demonstrate how it works and actually make it fun for viewers to associate with what's being shown. - Richard Hastings Quotes

On shopping networks, people model the products, demonstrate how it works and actually make it fun for viewers to associate with what's being shown.

Richard Hastings

Fun

If spending on durable goods slows down, it could also weaken sales of consumer electronics, especially on big ticket items that have a higher profit margin but are interest rate sensitive. - Richard Hastings Quotes

If spending on durable goods slows down, it could also weaken sales of consumer electronics, especially on big ticket items that have a higher profit margin but are interest rate sensitive.

Richard Hastings

Sales

The economy still has to prove itself and create millions of new jobs. - Richard Hastings Quotes

The economy still has to prove itself and create millions of new jobs.

Richard Hastings

If trade relations between the United States and China begin to deteriorate, and the dollar declines in a disorderly manner, then a minor thing such as raw cotton prices could become very important, - Richard Hastings Quotes

If trade relations between the United States and China begin to deteriorate, and the dollar declines in a disorderly manner, then a minor thing such as raw cotton prices could become very important,

Richard Hastings

Trade

It's basically the same formula that we saw last year because once again there's an absence of a must-have item, - Richard Hastings Quotes

It's basically the same formula that we saw last year because once again there's an absence of a must-have item,

Richard Hastings

Gift cards are like proprietary currency issued by a retailer. The intention is to get a potentially new consumer to come in and trade in that currency and try new merchandise. We're seeing retailers across the spectrum doing as much as possible to promote them. - Richard Hastings Quotes

Gift cards are like proprietary currency issued by a retailer. The intention is to get a potentially new consumer to come in and trade in that currency and try new merchandise. We're seeing retailers across the spectrum doing as much as possible to promote them.

Richard Hastings

Unlike Europe, Asian markets are more receptive to big-box formats, ... The model of relationships between households, labor, production, the market and resources are more easy to replicate there. - Richard Hastings Quotes

Unlike Europe, Asian markets are more receptive to big-box formats, ... The model of relationships between households, labor, production, the market and resources are more easy to replicate there.

Richard Hastings

Labor

The consumer is jittery. Rising debt levels, inflation and higher gasoline prices are all real threats and a drag on spending. - Richard Hastings Quotes

The consumer is jittery. Rising debt levels, inflation and higher gasoline prices are all real threats and a drag on spending.

Richard Hastings

Debt

Halloween this year falls on a Friday. That should be helpful for retailers because the party carries into the weekend. - Richard Hastings Quotes

Halloween this year falls on a Friday. That should be helpful for retailers because the party carries into the weekend.

Richard Hastings

People are still crazy. Sure, gas is expensive, but look on the bright side. People are still crazy and they're going shopping. - Richard Hastings Quotes

People are still crazy. Sure, gas is expensive, but look on the bright side. People are still crazy and they're going shopping.

Richard Hastings

Our recent visits to some stores indicate better controls over displays, clutter, and shelf appearance, necessary steps to stabilize store aesthetics in support of their apparel initiatives. - Richard Hastings Quotes

Our recent visits to some stores indicate better controls over displays, clutter, and shelf appearance, necessary steps to stabilize store aesthetics in support of their apparel initiatives.

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 Quotes

Wet Seal is a turnaround situation that has been helped by strong industry vendor credit support and solid communications with their vendors.

Richard Hastings

Retailers know that many people will wait until after Christmas for the big purchases. So they don't want to go too far into the holidays with excess inventory that they eventually will heavily discount. - Richard Hastings Quotes

Retailers know that many people will wait until after Christmas for the big purchases. So they don't want to go too far into the holidays with excess inventory that they eventually will heavily discount.

Richard Hastings

January is not just clearance month anymore. It's winter-season full-price selling, because Christmas and holiday merchandising is really promotional. These days, that's when you see the really deep discounts. - Richard Hastings Quotes

January is not just clearance month anymore. It's winter-season full-price selling, because Christmas and holiday merchandising is really promotional. These days, that's when you see the really deep discounts.

Richard Hastings

Retailers have very big orders from vendors ready for delivery right before and right after Christmas. They want to look really, really good. That's when they come out with the richest displays of winter merchandise, and it culminates with Valentine's Day. - Richard Hastings Quotes

Retailers have very big orders from vendors ready for delivery right before and right after Christmas. They want to look really, really good. That's when they come out with the richest displays of winter merchandise, and it culminates with Valentine's Day.

Richard Hastings

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