Consumers might think (restocking fees) are unfair. As long as they feel it's unfair, they'll be less likely to go back to that store.

Consumers this year just never got enamored with what they saw.

Consumers look around and see (the Home store's) $1,299 sofa and see others for $699 or $799 at other stores and it's a reality check. I find after the hoopla is over, they become retail museums.

China has given American consumers the best values they have seen in their lifetime.

Overall, the moderate-priced stores such as J.C. Penney, Sears and Wal-Mart had good traffic levels. We think luxury sales were probably flat this past weekend because more people said they decided to go away on vacation before Christmas this year than last year. So this could have impacted spending on other high-end items.

I would say that the first quarter of next year probably has already been doomed by this episode,