Gotta love these cover article pictures (click on the pics to read the stories):
And these recent headlines:
-J.C. Penney cuts outlook, adding to holiday jitters: “We have to be realistic about our expectations for the balance of the year,” he said, adding that “2008 is going to continue to be a difficult environment. We are planning 2008 very conservatively on expenses.”
-Macy’s posts profit but pares sales forecast: “The company did beat” estimates, said Brian Sozzi, a retail analyst with Wall Street Strategies. “But fleshing out those details, I don’t think the quarter was strong enough to warrant a sustained upward movement in the stock based on the macro trends.”
-Deutche Bank’s Investment Thesis (November 11, 2007): Our longstanding investment thesis recommends caution, given the apparent weakness of consumer spending (driven in part by gasoline inflation, a weak housing market, elevated credit concerns and an erratic stock market).
-Getting worried downtown: The bigger point is that even if the economy technically avoids a recession, it will feel like one to most Americans—because it will be led by consumers.
-J.C. Penney, Williams-Sonoma Net Dims Holiday Outlook: The department-store sector is an absolute train wreck; the home-furnishings sector has been the worst, led by Home Depot,’’ said Howard Davidowitz of Davidowitz & Associates Inc., a New York-based national retail consulting firm. “It all ties back to the consumer.’’
-Little holiday sales cheer: Maryland retailers could see only a 2 percent increase in sales this holiday season, which would be the smallest gain in five years, according to the Maryland Retailers Association.
-Retail sales sputter in October: “This [sales report] is the worst performance in five years and we expect a further deterioration as consumers cut back in the face of soaring gas prices, falling stock prices and the continued disaster in housing,” Ian Shepherdson, chief U.S. economist with High Frequency Economics, wrote in a note Thursday. “Already the past three months have been grim in general merchandise, furniture, electronics and clothing [sales]. The holiday season will be terrible,” he said.
-AnnTaylor Lowers Expectations: AnnTaylor Stores Corp. reported a 4% increase in fiscal third-quarter net income, but lowered earnings expectations due to worries over a weakening retail market.
[…] Brian Smith at November 18th, 2007 High oil prices + credit crunch + housing crisis = Bad Feeling. But does that bad feeling = Good or Bad news for the shopping engines? Ov […]