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-- -- that better than expected but our next guest says that it's also that illustrates the decline -- Of the middle class in this country joining us in studio today and executive director at P&G adventure group the decline of the middle class house -- Well you can take a look at retail stocks and see how their stock performance has played out and use that as a virtual proxy for the middle class IE JC Penney.
Target and Wal-Mart so we also that leaked internal email from wal -- right to -- our customers go where -- money go about their February sales.
Target -- announced that they had negative traffic that's the first time they've had negative traffic.
And obviously JC Penney is JC and yeah on the flip side you know I know you like Michael quarter's product and -- -- that high and then rocket wrong.
Exactly we have this bifurcated market so high in -- -- kind consumer to -- well they're feeling good they're buying.
And then the low end consumer is also the right thing if you really -- -- use that term dollar stores TJ Maxx and things of that nature but anyone in the middle is.
Cut out insisting that the numbers you know if you dig into the numbers as -- know you did.
Most of the increase was gassed up and out of the first actually knows all it is complain about -- -- -- -- on.
But electronics sales furniture sales eating and drinking all the ball down and really that's what you should pay attention -- in restaurants not the people.
Clearly I'm doing about.
But if you really look behind the numbers that really tells the story that the consumer is retrenching and are pulling back and you know it it's not that Rosie out therefore very large segment.
See -- rebuilding helped a little bit.
Well you know currency and you look at a quarter of a million vehicles were destroyed right so those had to be replaced we also have an -- fleet of vehicles anyway.
So yeah I'm in that did help and obviously gasoline is gasoline so the more cost abide worry buyout it it's no surprise that we've got the number that we got today.
You know -- -- -- quarter one the same thing happened last year first quoting here we kind of ennui and feel the gas prices going up.
Quarter to average fell off a cliff you well.
Yes I don't sequestration you well it takes a while this again but you know increasingly -- that paycheck and losing your job -- been looking Superman all.
Things are costing more -- any such a pullback -- talk JC Penney that we just got some headlines that.
The CFO says I'm not resigning.
Ron the CEO Ron Johnson not resigning either what you thought on that company I think that Ron -- -- a very lucky.
I think that -- 800 CEO for any other retailer would be on the beach right now.
He's incredibly creative man a very well -- man he's doing amazing things at JC -- but it's not resonating with the consumer you know why because back -- they're targeting some -- Could you said last time he's got like some apple halo over hello my got a Smart -- just -- Blue Big Apple.
To consumers not -- where is that consumer they just left.
They traded down you know it's like boyfriend that you ignore pretty soon he's not going to be there and what happens to JC -- they file for bankruptcy.
I hope not that's bad news for -- bond holders I don't think we have to get that drastic yet but it's you know not a good thing parents have been nice for -- -- is -- out in these numbers thank you girl.
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