CNBC: Retailers Post Weak April Sales, Cut First-Quarter Forecasts
Retailers reported weak April sales results on Thursday after cold, stormy weather and an earlier Easter holiday sapped demand for spring merchandise, prompting many to cut their first-quarter forecasts.
Retailers reported weak April sales results on Thursday after cold, stormy weather and an earlier Easter holiday sapped demand for spring merchandise, prompting many to cut their first-quarter forecasts.
Retailers are worse than farmers when it comes to making excuses about why things didn't go their way.
One of my old mentors used to harrangue us with "Excuses are like assholes. Everyone has one, and they all stink."
Sobriquets like "the weather was bad" or "it was a four weekend month instead of a five weekend month" are all crap that they think analysts will understand, and shift blame away from real reasons like "our minimum wage front line staff don't give a shit" or "our stores are dirty and don't follow the planograms" or "our supply chain is a disaster" and my personal favorite "our buyers wouldn't know a hot trend if it jumped up and bit them on their coke-ravaged noses."
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