Will We Ever Pay Retail Again?
Hoofy & Boo give consumer confidence a pep talk.
Consumer confidence improved significantly in April, jumping to 39.2 from 26.9 in March, according to The Conference Board Consumer Confidence Index. The government also reported that consumer spending rose 2.2% in the first quarter of 2009.
After the reports were released, shares of Wal-Mart (WMT) jumped 5.3%; Jones Apparel (JNY) was up 17%. Of course, such news could also give companies from Target (TGT) to Nordstrom (JWN) a boost.
But put in historical context, these glimmers of hope aren't so shiny after all. Consumer spending declined disastrously (by 4.3%) in the fourth quarter. And consumer confidence still remains far below normal levels.
In business, as in life, regaining confidence can be quite a challenge.
Join Hoofy & Boo as they take a look consumer confidence and its effects on retail.
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