Ken Perkins Year Quotations

Economic conditions have improved significantly from March last year when commerce was impeded for much of the month by the run up to the Iraq war. People do appear to be shopping more.

Everybody is waiting to see whether they can carry the momentum they've built this year into next year despite the tough holiday period.

We haven't seen this kind of positive sales performance since we began tracking the group in November 2000. Fourth-quarter profits for department stores rose 5 percent compared to a 1 percent rise a year ago. We've now has a couple of quarters of improving trends.

We've already seen some big disappointments in both Limited and Ann Taylor. Up front, retailers are also facing their most difficult hurdle of the year in the form of a 6.1 percent gain racked up in September last year.

The deceleration in earnings growth is a significant concern. Techs are up against steep comparisons in the second half of this year and the first half of next year,

The first two quarters of last year were OK but not stellar. If we still have double digit increases in earnings during the third quarter, that would be good news.

The American consumer has been particularly resilient over the last year plus, ... They're finding ways to spend.

The last time Wal-Mart had a monthly same-store sales gain that low was back in December of 2000, with a 0.3 percent rise. Prior to that was in April of 1996, with a 0.2 percent gain. That was probably another year when Easter got pushed into April.