Stock Market Slide

by Steve Pruitt

Q: The stock market has been sliding in recent weeks and everyone is talking about an economic double-dip. Are you seeing the same slowdown in retail stores?

A: We are seeing a slight slowing, but it has nothing to do with the economy. What we are seeing is actually the normal summer pattern of less traffic during vacation times. In fact, stores that have landed early fall and “Buy Now, Wear Now” goods are doing quite well. The stock market is a psychological indicator, but it does not tell the whole story. This is evidenced by the fact that many corporations have reported higher than expected profits over the past few weeks.

Date answered: 08/24/2010
Question raised by: Mike