They're trying to create the perception on Wall Street that inventories are in great shape, but how much of that is true sales of merchandise and how much is just accounting?
While integration risk is always the greatest concern with mergers, we have a high comfort level that the (Federated) game plan is achievable.
It appears that the greatest factor for our retailers slowdown up until now had been the unseasonably warm weather, and as soon as we got more seasonally appropriate temperatures it unleashed pent up demand.
It appears that the greatest factor for our retailers' slowdown up until now had been the unseasonably warm weather, and as soon as we got more seasonally appropriate temperatures it unleashed pent up demand.