Consumers still aren't in a spending mood, ... This year is going to be modestly better. The emphasis is on the word 'modest.'

I expected the spending forecast to be more buoyant. But it could be the case that NRF is curbing their enthusiasm a little now,

Penney is continuing a three- or four-year downfall,

This is actually a little worse than I expected, and particularly bad when viewed within the context of a year ago, which was already very weak.

Consumers are in a better mood than the headlines would suggest.

Music is energy. A mood, atmosphere. Feeling.