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Modell’s CEO Mitchell Modell and 1-800-Flowers CEO Jim McCann on the holiday shopping season and the impact of the fiscal cliff uncertainties.
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Well nothing like a blizzard -- of -- winner shopping season that as a -- ready frozen out a lot of retailers snowstorms buffeted much of the country.
As folks are still dealing with that other big storm sandy and even more folks a look at what's happening -- Washington.
And they -- that they might its roots for many not a lot to be careful about the what does a retail C noted though we -- -- -- to have the best from 1800 flowers to -- And from sporting apparel retailer -- -- and it's no doubt the twenty to what are you see now.
What do we see -- -- -- a lot of a lot of sales for the consumer we took what what January -- downs today really two days ago.
Of course you know -- business is so off I got tons of spring apparel sitting at the ports -- -- -- rural went to good song and and of course -- very big in the New York area so your jets paraphernalia is going for a song that -- Tivo and not on oh yeah.
Have a Tivo this question has T shirt and a Jersey isn't quite effectively until it Russia I and they get -- thousand annual fund jet's first -- have a he's still happy so that merchandise so big discounts for consumers need to be -- and good -- an -- -- -- religion.
Well -- we did certainly feel the impact of sandy and we're working through all the issues of a storm coming across the country but thank goodness it's been this good solid holiday and this is a big weekend -- -- to -- so we're expecting to finish even stronger but.
So it's -- see it feels really good.
But it's not over and if we didn't have -- would have been even better now.
Wow who most of -- at this late stage in this this time India because we have flower and gift -- -- flower business kicks in this past week but before that has -- -- largest food businesses saw Fannie -- to corporates are Charles -- -- When 800 baskets gift baskets of those of the businesses popcorn factory have been really doing well because -- the right price point that there.
That intimate kind of get -- and you'd think if the cents a share bull enjoyable -- So they've been they're strongest right up until this week they'll deliver right through to Monday's -- -- order from them but data -- businesses kicked in this week.
Yeah -- wanna see you ever did was standing in the -- as I've always argued you never go wrong.
Usually do to branch out -- working at special term certainly agree movie and I and I have to.
I left -- went and we still -- -- -- stuff so that.
What do you ever seen did -- that the -- that the monsoon affecting customers I -- think.
For somebody stuff -- needed to be an impulse purchase were to be.
A more substantial -- is but to people wait that was just -- argue your case that -- stores the uncertainty.
It's about to uncertainty it's about jobs is recourse might draw up and you know you've been.
The more negative news about you know them the Democrats and Republicans not getting together -- is not good for business and it's not good for the consumer psyche.
There it that's it weighs on the consumer sentiment so it's that you don't need it you saw last month for the first time consumer sentiment which had been building since the spring.
Took a backward step by five points -- that the effects there there's psyche -- attitude to good news for us is.
We're in a good price point we're not enough high end luxury item soared -- -- or 1800 -- -- have a lot of accessible price points or not as affected as.
A luxury retailer might.
But you don't you just find it odd that a lot of people are.
I don't know how the numbers -- out the season Clinton.
In doing now we could look at the shooting last week that certainly understandable but -- look at sandy you know want to guy that did it.
But the insulted at this season where this does not a connecting.
You know what when the first forward to raise further -- than we were rich yeah where she we were tutors and Christmas -- war.
In the consumes -- and -- -- up next week to shop.
And -- -- you can see a lot of volume over those next three days that's people -- going to be coming out.
Really -- -- and for -- it's a good thing because as you noticed around town today traffic was lighter.
A lot of people off earlier today so our customers feel like to have a three a four -- shopping window left so I think we're gonna have -- awfully strong weekend.
And you richly rewarded for waiting right I mean progress that is generally upon it only mode else at.
I know business all -- -- of course from the BC EO -- business -- -- business so.
You know it's it's out -- but you could be affected separately -- -- possible port strike right because a lot of stuff that comes in the year we office yet we've been monitoring very carefully you know we have.
Municipal lot of groups to the West Coast and there was a -- goes right.
The West Coast was gonna -- strike so.
-- -- -- -- -- vice president in a -- here I would bet you argued have a different -- would all -- -- Atlanta and yeah.
But the odd.
Folks worried about next year and talk about a recession whether or not would we settle this Clifton whenever -- as you know I hear more reviews that things are gonna -- For more standpoint and from some standpoint we know we're value equation so when -- it's not cost many -- value.
Will appeal to people that will be trading down to -- knowing that you know every thousand so critically important about.
Our I think.
We're we see that there's a plan in the -- that'll be done here I mean it doesn't take a rocket scientist to figure out where the plan which will get -- with the deal get done.
It's just a question what political price -- extract for it.
So -- I'm pretty optimistic about next year the elections behind missile all the noise of that is gone.
The economy is -- be recovering.
If the tax burden is in too crazy I mean was -- -- sent the behaviors we want not this incentive incentives tax increase is gonna disincentive.
But in spite of that I think the trend lines look fairly.
Soberly -- positive a -- -- -- gentlemen thank you both very very much -- level.
