Ken Perkins Consumer Quotations

Consumers really felt the pinch of higher gas prices and job growth is stagnant.

August is the big month because that's when the bulk of the back-to-school revenues are generated, ... But we got some very positive signs in July, especially with apparel sales showing the strongest monthly gains. Apparel sales are important because they provide the first indication of how consumers are spending their discretionary income.

There were a number of factors that dampened consumer spending,

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

The consumer has not run out of gas yet, provided the job market continues to remain fairly decent.

If the price of oil remains between $45 to $50 a barrel, that's not a good sign especially if we experience a very cold winter. Heating oil prices will go up and that's likely to dampen consumer spending during the winter months.

It's not the greatest macro environment to be going into. The psyche of the consumer has taken a beating the last couple of months,

Clearly falling gas prices coupled with the late arrival of cooler weather in the last two weeks of October gave a boost to consumer spending.

High energy prices coupled with uncertainty regarding future economic growth and the job situation appear to be disproportionately impacting low-end consumers and hurting sales.