If you look at the demographic breakdown where sales occur, they are much heavier along the east and west coasts.

If you look at the demographic breakdown where sales occur, they are much heavier along the east and west coasts. The only way Toyota can see sales growth is to appeal to a customer they really haven't had access to: the tried and true American.

Although we are only one month into the second quarter, we are concerned by the May sales trend, ... We are hopeful that more seasonably warm weather in June, combined with the boost to the economy from lower interest rates and anticipated federal tax rebates, will trigger a strengthening of sales as we move into the summer. Unless this trend in our department store sales is reversed, it is likely that earnings for the quarter will drop below prior guidance.

Our December department store sales were disappointing, which we think is attributable at least in part to heightened consumer concerns over a slowing economy,

This was a solid third quarter for Federated, propelled by strong sales and earnings in our department store segment and a level of performance in our direct-to-customer catalog and e-commerce businesses that was in line with what we had anticipated, ... We are entering the fourth quarter with our inventories in good shape, and we remain optimistic that it will be a good retail Christmas season.

Perhaps more important, our annual dealer sales of cars and trucks to retail customers has nearly doubled in that period, ... We have been consistently outperforming the industry in sales, and our share of the market has grown substantially.