Sell-Side “Pent-Up Demand” Fantasy: Q1 Retail Profit Outlook Went From +13% to -4% (Actual) In 90 Days

In the space of only three months , retailers went from (yet again) expecting fortune and finding instead more “mysterious headwinds.” But this is beyond the usual ridiculous affair, to miss by that much implies something far more serious. To go from +13% to -4% that quickly is an outrage, not just to the economy as it sinks further under the weight of these commandments, but also in those businesses that continue to rely on orthodox forecasts and assumptions.
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