These Are Tough Times for Retailers: Johnson

REPLAY VIDEO
Your next video will start in
Pause

Recommended Videos

  • Info

  • Comments

  • VIDEO TEXT

Aug. 13 (Bloomberg) -- Customer Growth Partners' Craig Johnson comments on Macy's earnings miss and previews the earnings reports from Wal-Mart, Nordstrom, J.C. Penney and Kohl's. He speaks with Pimm Fox on "Taking Stock." (Source: Bloomberg)

Focuses exclusively on retail companies.

Always a pleasure to see you.

Want to start with macy's, what is going on there?

Macy's operating about as well as a company can in very difficult, choppy waters.

Very weak now and reluctant to make big turk -- ticket purchases.

That being said, the consumer remains weak looking forward.

So they will have a good holiday.

Macy's almost always has a good holiday am a but these are tough times, and it is almost across-the-board.

Let me get your thoughts on each one of these.

Walmart, start there.

Wal-mart is the most important because it is the overall reflective of the economy.

Five years ago at the peak of the recession, walmart had 12% market share of the retail market.

Over the past five years it has tech down 20, 30, now down 100 basis points.

They have been attributing market share.

Interestingly enough, half of it, it has gained 50 basis points out of the hundred that macy's donated.

Cosco, tremendous company.

The dollar stores, which do not report for another week or two, they collectively gained 20-25 points.

-- costco, tremendous company.

That is why it is so important walmart, particularly in the u.s. where they have a new ceo to starting that just transferred from asia.

Very important he turns the mothership around.

That is walmart.

Tell me about the other end of the market.

Lex nordstrom will do pretty well but you have to parse the business.

The retail store, the full-line stores are soft.

Doing ok.

Had a pretty good anniversary sale.

Not as good as some past sales.

There is nordstrom and their flash sales site but the full by stores are a little soft.

Store only comps we think boldly negative again.

Jcpenney still a work in progress.

They have lost five billion and elias -- annualized sales.

They are coming out of it.

We think they will be ok tomorrow but only ok.

Last time around a six percent, and change which is quite incredible off of very low base.

They are still coming out of it.

Out of a very low base.

How about kohl's.? they have had very choppy sales are a while now.

We think they're beginning to turn the corner.

Dismal q1. so there you will be improving

This text has been automatically generated. It may not be 100% accurate.

Advertisement

BTV Channel Finder

Channel_finder_loader

ZIP is required for U.S. locations

Bloomberg Television in   change