Quotations
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Richard Hastings Quotes
«The management shakeup is no surprise, and we welcome the change, ... We believe Lewis is the better person to lead a customer-centric business.»
Author: Richard Hastings
«The capital markets are so liquid, despite some of the increase in borrowing costs, that they create wonderful choices for consumer companies like Tommy Hilfiger and J. Crew to go private, ... break themselves into pieces, gobble someone else's pieces or just try to raise money to get bigger.»
Author: Richard Hastings
«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.»
Author: Richard Hastings
«The pundits that said department stores are dying are wrong. This is a different channel. What you get there, in terms of brands and variety, you can't get elsewhere. There's no substitutability.»
Author: Richard Hastings
«We are not surprised to hear of the sale of 24 Kmart units to Home Depot.»
Author: Richard Hastings
«The additional cash on the balance sheet from the asset sales will put Kmart in a position to further reduce debt and possibly buyback more shares in a move that could boost share prices further. At the same time, the big cash position will enable management to look at an attractive range of choices, including the possibility at some point in the future of a major acquisition.»
Author: Richard Hastings
«We're already seeing heavy markdowns particularly in apparel.»
Author: Richard Hastings
«Electronics is certainly carving a big chunk of money out of the pockets of shoppers. Back-to-school is increasingly about how cool is your phone, or how new and cool is your notebook -- that $1,350 notebook -- and students are judging each other by their gizmos at least as much as by their clothing.»
Author: Richard Hastings
«New seasonal fashions brought out many apparel shoppers beating our sales expectations for some specialty apparel retailers. Overall, the industry is getting better at fixing short-term merchandising missteps, and October's cooler weather certainly brought out favorable reaction from many shoppers.»
Author: Richard Hastings
«It's great if you attract lower income shoppers looking for low prices, but what if those shoppers who were really struggling between 2000 and 2003 now have jobs? They might be spending more and looking for different merchandise...maybe something Wal-Mart doesn't have.»
Author: Richard Hastings