Bill Dreher Clearly Quotations
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Buying Quotes
The same issues which are depressing the consumer confidence numbers are going to depress holiday sales, ... Christmas is going to show up this year as it shows up every year. The question is, how generous are people going to be? Are they going to go whole hog and return to the decadent spending levels of three or four years ago? No, clearly not. People are going to be buying toys, but how many presents they buy, how wide that circle of gift giving is really is in question.
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Appears Quotes
The announcement by Neiman Marcus...makes us as concerned as we have ever been that this Christmas will be extremely lackluster. It appears now the high-end consumer is beginning to scale back their purchases, which does not bode well for the holiday season. This type of thing is clearly going to have an impact on other high-end retailers.