Richard Hastings Strong Quotations

We had a strong back-to-school season and discretionary spending on low-priced items has trended higher. These are good indications for Halloween, which typically sets the tone for the rest of the holiday shopping season.

What's holding up the consumer is habit. Until things change in a very material manner, American consumers won't alter their shopping habits significantly. The jobs market is strong and there's been a little bit of improvement in wage growth. I still don't believe that gas prices are high enough to derail consumers. If there is one thing that could shake consumers it's the housing market and not gas inflation.

Sears did a superb job on seasonal holiday promotions in circulars and TV ads and enjoyed a strong November. Sears comparable sales gains compares favorably to last year when November 2003 same-store sales were down 3.6 percent,

Wet Seal is a turnaround situation that has been helped by strong industry vendor credit support and solid communications with their vendors.