Department Stores Don’t Reflect Health of U.S. Consumer, UBS's Kane Says

The transcript discusses the state of retail sales, highlighting a disappointing December figure and questioning its accuracy. It emphasizes that department store results, like those from Macy's, may not fully reflect the US consumer's health due to challenges like e-commerce competition. Despite declines not seen since 2009, positive consumer fundamentals and a strong labor market persist. The discussion also covers how earnings reports and pre-announced news affect investor reactions, noting that market responses depend on prior expectations.

What does the hiring trend among retailers indicate about the labor market?

How should investors interpret the mixed signals from Macy's performance?