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Liz Claiborne founder Jerome Chazen on the outlook for the retail setor and consumer spending.
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New retail sales data out today showing a slowdown in sales in April but this next retail veteran.
Actually sees a bright future ahead for the whole industry.
Durham Jason is the former chairman of Liz Claiborne and also all of the broke my life at Liz Claiborne.
That is an interest in -- he joins us now on a Fox Business exclusive to -- thank you for so much for joining us you see a bright future I do why is that.
Well first of all I think I truly believe that consumers are confident about the future -- they have been spending money.
Retail business is good.
I'm a board member of the shopping mall company and I can tell you this is -- -- out there.
And business has just stay good at least for the past year.
The April figures are very hard to look at because you have to really have to put march and -- together but I because of Easter but.
The I think people are just confident I spend.
First of all we're thrilled to have somebody like Q because -- view.
Have quite expended extended experience in the entire industry so having been through booms and busts many different times.
Everybody was saying -- the weather was so good in the first part of this year and so all the spenders.
Push their spending upfront another stopping by see that is true or do you think people won't buy anything for the rest of the year now.
-- I think weather is a factor there's no question about it it's not usually a significant factor except in certain.
-- little niche markets like clubs you know if it's not a cold would -- business sucks.
And coats and so on with the warm weather.
It's conceivable that that department stores and specialty stores to.
Did not do well -- winter goats and maybe took additional markdowns and so -- which could have affected gross margin.
And but by and large that you live with a whether and how little it's bad when you you make it at the next years.
Like farming.
The -- that others nature's path beckon -- -- this in the drama from this very -- you say the housing market is helping retailers well.
Now seems to me dead -- one of the things that's happening as a result of people not buying houses and you're spending money in other ways.
They're buying cars we know that.
Did buying clothes they're buying jewelry they're buying all kinds of things and it's possible I mean I don't know if anyone's done.
The numbers are what you can do and unless something like this.
But.
At least you know if you can't buy new house if you're renting instead of buying he could free up a certain amount of.
Capital capital to spend on clothes JC Penney the numbers just came out wider than expected loss they're suspending the dividend.
JC Penney bringing in the Liz Claiborne brand into the stores are you happy with the way that they're promoting -- -- do you think that some missteps have been made already by the new CEO or is he on track.
Well he he feels he's on track.
The question is will consumers accept what they're trying to do.
And more goods -- regular profit growth and move goods at regular price every day -- -- sales and selling.
In my book I talk about that a lot loan the whole definitive strategy.
I think so I think I I would like it to become a universal strategy Bryant instead of every everything's on sale in.
