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CNN Live At Daybreak
Spending on Father's Day Gifts to Reach Nearly $100
Aired June 04, 2003 - 06:43 ET
THIS IS A RUSH TRANSCRIPT. THIS COPY MAY NOT BE IN ITS FINAL FORM AND MAY BE UPDATED.
THIS IS A RUSH TRANSCRIPT. THIS COPY MAY NOT BE IN ITS FINAL FORM AND MAY BE UPDATED.
CAROL COSTELLO, CNN ANCHOR: It's time to get a little business buzz right now. As you know, Father's Day is coming up, so let's go back live to New York and Susan Lisovicz to check out what dads can expect this year.
Hello -- Susan.
SUSAN LISOVICZ, CNN FINANCIAL NEWS: And some surprising information, Carol, from the National Retail Federation, which says consumers will spend an average of just under $100 for Father's Day gifts. But that's higher, that's about $3 -- about $2.50 more than they spent on Mother's Day this year.
COSTELLO: You're kidding!
LISOVICZ: No, I was shocked when I read that.
COSTELLO: Me too!
LISOVICZ: I don't know why. Dad won out this year, the first time in the three years of this survey.
So -- OK. So, what is Dad going to get this year?
COSTELLO: Yes.
LISOVICZ: Surprise, surprise. Twenty percent say they will buy him clothes, which includes...
COSTELLO: Ties, ties.
LISOVICZ: ... the obligatory tie. Fifteen percent will go for tools in the home improvement and gardening department. And not surprising is that women typically spend more than men on Father's Day.
COSTELLO: Yes. Isn't that always the case?
LISOVICZ: Yes.
COSTELLO: We're not a very creative country when it comes to gifts, are we?
LISOVICZ: On Father's Day for sure.
COSTELLO: That's definitely for sure.
Just a word about Martha Stewart for those who weren't with us from 6:00 to 6:30.
LISOVICZ: OK, well, you know, yesterday the company announced that they had been told that a criminal indictment against the company's namesake, Martha Stewart, is imminent. The stock getting battered by the news, falling 15 percent yesterday. Not sure as to what the charges will be. I mean, initially the whole case stems from insider trading speculation, because she dumped 4,000 shares of ImClone stock a day before some very negative news hit the Street. But now, there is speculation that it will be obstruction of justice.
Whatever the case is, it's a terrible time for the company. The company held an investors' meeting yesterday afternoon in New York City. Martha Steward did not attend.
COSTELLO: All right, we'll keep our eye on it, because she could be indicted and arrested as early as today.
Susan Lisovicz live from New York, many thanks.
TO ORDER A VIDEO OF THIS TRANSCRIPT, PLEASE CALL 800-CNN-NEWS OR USE OUR SECURE ONLINE ORDER FORM LOCATED AT www.fdch.com.
Aired June 4, 2003 - 06:43 ET
THIS IS A RUSH TRANSCRIPT. THIS COPY MAY NOT BE IN ITS FINAL FORM AND MAY BE UPDATED.
CAROL COSTELLO, CNN ANCHOR: It's time to get a little business buzz right now. As you know, Father's Day is coming up, so let's go back live to New York and Susan Lisovicz to check out what dads can expect this year.
Hello -- Susan.
SUSAN LISOVICZ, CNN FINANCIAL NEWS: And some surprising information, Carol, from the National Retail Federation, which says consumers will spend an average of just under $100 for Father's Day gifts. But that's higher, that's about $3 -- about $2.50 more than they spent on Mother's Day this year.
COSTELLO: You're kidding!
LISOVICZ: No, I was shocked when I read that.
COSTELLO: Me too!
LISOVICZ: I don't know why. Dad won out this year, the first time in the three years of this survey.
So -- OK. So, what is Dad going to get this year?
COSTELLO: Yes.
LISOVICZ: Surprise, surprise. Twenty percent say they will buy him clothes, which includes...
COSTELLO: Ties, ties.
LISOVICZ: ... the obligatory tie. Fifteen percent will go for tools in the home improvement and gardening department. And not surprising is that women typically spend more than men on Father's Day.
COSTELLO: Yes. Isn't that always the case?
LISOVICZ: Yes.
COSTELLO: We're not a very creative country when it comes to gifts, are we?
LISOVICZ: On Father's Day for sure.
COSTELLO: That's definitely for sure.
Just a word about Martha Stewart for those who weren't with us from 6:00 to 6:30.
LISOVICZ: OK, well, you know, yesterday the company announced that they had been told that a criminal indictment against the company's namesake, Martha Stewart, is imminent. The stock getting battered by the news, falling 15 percent yesterday. Not sure as to what the charges will be. I mean, initially the whole case stems from insider trading speculation, because she dumped 4,000 shares of ImClone stock a day before some very negative news hit the Street. But now, there is speculation that it will be obstruction of justice.
Whatever the case is, it's a terrible time for the company. The company held an investors' meeting yesterday afternoon in New York City. Martha Steward did not attend.
COSTELLO: All right, we'll keep our eye on it, because she could be indicted and arrested as early as today.
Susan Lisovicz live from New York, many thanks.
TO ORDER A VIDEO OF THIS TRANSCRIPT, PLEASE CALL 800-CNN-NEWS OR USE OUR SECURE ONLINE ORDER FORM LOCATED AT www.fdch.com.
