Continue to see GDV [Gross Dollar Volume] growth slowing in the US…… – MasterCard Investor’s Presentation, May 29, 2008, “2008 View” (pg. 61 of 69) Take a look at this chart of US gross dollar volume growth on Mastercard credit and…
The combination of record high fuel prices and continuing difficulties in the housing sector has further accelerated the shift away from large pickups and SUVs to small and medium-sized cars and crossovers. We saw a real change in the industry…
The housing and home improvement markets remained difficult in the first quarter; in fact, conditions worsened in many areas of the country. – Frank Blake, CEO Home Depot Home Depot (HD) reported another tough quarter before the open this morning:…
Troubling all around, lower confidence and ongoing inflation worries. – Ian Lyngen, Interest Rate Strategist, RBS Greenwich Capital This morning the Reuters/University of Michigan Consumer Sentiment Survey fell to 59.5 – down from 62.6 in April and its lowest level…
This is just getting dumb. Nordstrom (JWN) announced after the close 1st quarter EPS of 54 cents a share on a 6.5% same store sales decline. Net income declined by 24%. After a long string of impressive same store sales…
Yesterday Macy’s (M) reported 1st quarter earnings. They reported earnings of 2 cents a share on a continuing basis compared to 16 cents last year. Sales were down 3% and same store sales down 2.6% (M Earnings Release). The stock…
Like many retailers we’re seeing softer sales at our restaurants in California, Phoenix and Las Vegas, which have been hardest hit by the housing downturn, high fuel prices and unemployment. – Jack In The Box Earnings Release Fast food restaurant…
Our business is even more relevant to our customers today, given the current economic pressures. – Lee Scott, CEO Walmart This is the Walmart Economy! I’ve been talking about this for a bit now (see, for example, “Dan Gross: Tough…
“The new capital will enable Fannie Mae to maintain a strong, conservative balance sheet….” – Fannie Mae 1st Quarter Earnings Release The Heard On The Street column in today’s WSJ, “Will $6 Billion Do For Fannie?” (subscription required), caught my attention. Fannie announced…
You might think that in a weak economy, consumers would cut back on things like trips to Disney’s theme parks. But their theme park revenues and earnings for the quarter ended March 31, released yesterday, were impressive. Revenues were up…