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So there’s good and bad news on retail sales.
The good news:
--April better than March, even if you include the early Easter and better weather.
--Teen retailers terrific.
The bad news:
--We may be overly optimistic here. Some cynics believe this is a head fake, and that we should not extrapolate this into some kind of consumer turnaround. Expectations were extremely low for April.
--There is a clear trend toward non-discretionary items. So Wal-Mart [WMT Loading... (%)
] did a little better than even Target, and the wholesale clubs were huge. Costco [COST Loading... (%)
Bottom line: consumer still looks stressed, hope is the tax rebate will help some in May. The question is whether oil trumps better sales.
Questions? Comments?
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Data is a real-time snapshot *Data is delayed at least 15 minutes