• HEDGEYE’S MARKET BRIEF
    Our FREE Investing Newsletter
    Get Exclusive Summer Sale Discounts

    By joining our email marketing list you agree to receive marketing emails from Hedgeye. You may unsubscribe at any time by clicking the unsubscribe link in one of the emails. All Hedgeye products and services are subject to Hedgeye’s Terms of Service available at www.hedgeye.com/terms_of_service

Check out the consumption divergence below. Apparel and footwear continues to recover nicely, but furniture and household equipment flat-out tanked. The soft goods component of the Home category remains strong (BBBY, WSM), but the higher-ticket durables and furniture took a meaningful step-down. There are so many 'what if' scenarios. With tax checks coming earlier this year on top of deferred wardrobe upgrading and an early Easter, perhaps apparel is seeing disproportionate share gain in total PCE. Perhaps beneath all the noise people remain flat-out afraid to spend on high ticket items. Either way, this is something to watch.

Retail Chart of the Week - 5 17 2009 9 19 15 PM