Consumers Taking a Leap of Faith
April 29 2010 - 9:24AM
Marketwired
www.rothmanresearch.com - Corporate America and the American people
are starting to find a sense of relief after a long desert-crossing
since the collapse of financial institutions which pulled the U.S.
economy into an abysmal freefall for over eighteen months. After
parched earnings seasons in late 2008 and the whole of 2009, the
first quarter ending of 2010 is looking like a downpour of great
news for a sustained economic recovery. A fundamental change in
consumer behavior this past quarter has lifted a large majority of
earnings results delivered so far. Consumer spending has been on an
uptrend pattern for the last five months reflecting positively on
retail sales which has shown four uninterrupted months of increase.
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Two weeks back, Nike Inc. (NYSE: NKE), the
world's largest sportswear group, reported its third quarter of
fiscal 2010 with a 7% surge in revenue and a 104% increase in net
income as compared to the same quarter in 2009. The company cited
an increase in sales mainly from emerging markets to be behind its
recent surge in revenue. On Tuesday, apparel maker Iconix Brand Group Inc. (NASDAQ: ICON) posted its first
quarter 2010 results with a 58% increase in revenue as compared to
earnings in the year-ago period. The company attributed this
increase to revenue generated from licensing amongst others.
*Complimentary downloadable research reports on Nike Inc. and Iconix Brand Group Inc. are accessible
upon registration at
http://www.rothmanresearch.com/article/nke/23493/Apr-29-2010.html
or
http://www.rothmanresearch.com/article/icon/23494/Apr-29-2010.html
The Consumer Confidence Index is currently at 57.9 for April,
its highest level since September 2008. Even if it is showing
slight improvements, the figures still has a long way to go before
the economy is fully recovered.
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