Kurt Barnard Three Quotations

We're seeing clearance sales that are early by at least three to four weeks. Going back to the beginning of summer they had a lot of inventory on hand and they need to get rid of it, ... Second-quarter earnings are going to reflect the markdowns. Everybody has been caught in the downdraft.

The sales clear evidence of modest consumer spending slow down. We expect a decent holiday sales season, but an unspectacular one. The last three have been spectacular, particularly the last one.

It is a coming back down to earth. About two or three months ago, the world was swept up by the notion that the economic recession is over and the good times are rolling again. That meant consumers would be knocking down the doors of retailers the way they did a few years ago. But guess what? It ain't happening.

Amazon's prospects, in my view, are at best limited. They may do some wonderful things, but the market isn't there. It's like a jockey beating a horse with three legs.

The weather was a factor and the effects of higher gasoline prices are finally catching up with retailers at the registers. Beyond that, I think we're likely to see softness for the next two to three months.