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Where Are Consumers Spending Their Money?

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    Talented Blonde President Kristin Bentz on the state of the retail sector.

  • Duration 4:21
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-- for that contract and along with all the volatility of the markets -- dealing with today you've also got a confused consumer.

August consumer sentiment hitting a thirty year low but retail sales.

Had their best showing since March.

Joining us now Kristen Benz sounds -- -- president -- Nordstrom's.

How do you success with their second quarter -- 20% gain what -- happening in the -- also.

Well it's all about best in show.

So you -- -- stunning is ads appear class performer when it comes to a lot street name which I consider a lecturing and it amazing management and they are really localize and their stores like Macy's.

And that's another company it's been doing well -- -- kind of countering to it in this market you'd think it department store wouldn't be writing in this environment at Macy's in -- from are just -- right now.

Yeah I saw the Macy's quarters while we're going to be out there with El Monte is ever gonna get a lot of answers -- -- about what's going on about place also JC -- another.

Big one because JC Penney and even -- Dillard's what's the big west 'cause they may -- companies 'cause don't know that name.

But you know dealers obviously -- earners on a those stores as well -- showing strong performance.

Which is ironic Dillard's is it you know it's a family run company and it's really been struggling for quite a while so actually surprise me to see those numbers out of them.

Same -- JC Penney is well.

They're kind of you know across cut out of the market right now because they're -- -- not really writing department store but yet they're not at discount -- So you know they're they're doing their homework which is impressive.

Yes Steve I wanna bring you into this because again we got the retell -- today -- I think -- that was fascinating about -- it's -- -- -- another.

I needed -- about I don't I don't know I was shopping -- -- -- they get help move the needle like -- bought clothes for the first time in like five months.

But is a big deal for me.

You know but let you know what it but what do back to school and that's going to be a big thing -- us into the next single actually back to school seasons are excited but now that it's no wonder that some people already gone back to school -- -- is that.

Has I -- how much it.

-- -- -- Walked out here in Arizona most of the kids have actually been back for a week or two weeks in some cases and you know I've argued for few years that there really isn't a back to school selling season it's more about buying closer to need like a buy now -- now.

So the way that the consumer has been be heaving.

You know you might get your kid a new laptop or you might get -- a new pair of shoes or repair teens.

But it's really not a staller back to school shopping season I think you're gonna see clear winners and losers here and I really not predicting a big back to school -- -- And yet just a question on in terms of the retailers you follow on how important or how much -- they utilizing discount is discounting.

The new black and is that contributing in part to some of the the sales numbers say because as -- to the top of the segment the sentiment is low the sales are up.

How discounted playing a role on all this.

That's a great point.

It's playing a huge role and most of these retailers especially in the -- sector got hit really hard with cotton pricing.

So -- locked in their cotton prices six months ago but now you know they're they're paying top dollar -- even though -- actually has -- In the past month.

That's still taking -- long -- to -- around so a lot of -- consumer retail companies have taken pricing power and openly tallying.

You know the the press and the consumers while.

We had to take our prices up so.

Discount he's very deep.

It's very relevant and it's it's a big time price war between teen retailers right now but.

Don't be surprise when that discount does it seem as great as it normally well it it.

Because they had to take prices up.

To keep their margins well I I mean what if what if what you're saying kind of bodes into that piece from the retail sales.

A number that we got today.

Point 8% down to the negative for department store so I'm wondering if that's kinda in line with what your what your analysis this -- Yeah well you know I'm bullish -- -- series so I was gonna put my money and he's sort of you know.

Retail equities at this point it would be it -- hit me -- LVMH recent months you and he's super liberal actually because.

You know we talk about this bifurcated market all the time share on your show and the high high end is doing well we feel great they're spending they're really not that affected or worried.

About the economy -- yet you know that middle market consumer is not doing while they're hurting so.

They're shopping the targets in a wal marts and the cost Dennis Christen events -- -- -- president of course three tell expert Kristin thank you very much.

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