What Consumer-Facing CEOs Think: “It’s Like Being At War”

U. S. companies are taking a margin hit as they continue to cut prices amid intense competition, according to Bloomberg Briefs’ Richard Yamarone. In this disinflationary environment, Yamarone notes that consumer-related businesses are raising red flags on the struggling household sector, especially those at the lower end of the income spectrum. Here are 8 CEOs comments to clarify the ‘real’ situation (as consumer confidence somehow hits 7 year highs)…
Hooker Furniture [HOFT] Earnings Call 9/10/14: ‘We’ve seen a slowdown in orders during the late spring, early summer and that demand was not as robust as we would have hoped given our strong furniture market in April. That trend continued throughout most of the summer, which was characterized by fairly sluggish retail conditions.’
Restoration Hardware [RH] Earnings Call 9/10/14: ‘As of late, there have been multiple questions, comments and discussions in the press and among the investment community about the continued caution of the customer, the increased promotional environment, and an apparent overall retail funk in the marketplace. Being in the retail business is like being at war.’

This post was published at Zero Hedge on 09/26/2014.