I love to see Americans out there spending like crazy. That is the true national pastime IMO.
Overall, "it looks excellent," said Jharonne Martis, an analyst at Thomson Financial. She noted that although there are worries about the strength of sales in the next few months, "consumers beat expectations. It seems like all stores got traffic."
Martis noted that a positive sign was the robust results from teen retailers, indicating that younger consumers have a lot of discretionary spending despite high gasoline prices, she said.
Even I bought a pair of cargo pants from Hollister this past quarter. I was also seriously contemplating buying a nice shirt from Abercrombie & Fitch. I was just put off by the $70 price tag and thought it wasn't worth that extra cash.
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