In my opinion total sales matter the most at the present time. Right now it would appear that the Street is looking for an increase of 6.5% for the current quarter. If BKE can grow total sales by 6% then earnings can grow by 10%. If total sales are flat for the month or the quarter then it obviously calls into question the strength of this economic expansion. Right now the Market is worried about growth, and most of our recent posts seem to have the same worry. BKE is a great company, but if this expansion is stagnating, and along with it BKE's sales growth then this stock is going nowhere.
chris, especially in a largely non inflationary environment you do max out on sales/sq foot at some point. jmo, but at some point the focus really has to shift to total S&E vs sss, which does seem to be what we're seeing now, since the last "rotten" sss #, market has been willing to consider totals more. esp. if some on line is taken away from stores, not sure, do we assign on line by region/zip to stores for sss?