Good to see this finally hit the MSM. The life of the economy is consumer spending, even though that's the last you'll here at the BBQs. Behind the plastic facade, it's even more dire that most would realize.
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After analysing the financial health of retailers with more than 4000 stores, Macquarie says "profitability for apparel retailers remaining challenging", particularly for unlisted companies, as retail sales moderate and the lower Australian dollar raises import prices.
"Given the challenging retailer environment, we expect further retailers to enter into administration after the December peak trading period (i.e. in the first quarter of 2017)," the broker told clients.
John Winter, chief executive of the insolvency industry body Australian Restructuring Insolvency and Turnaround Association, said the "general feeling is that we expect to see an increase in retail insolvencies early in the new year.
"It appears that an increasing number of retailers are coming under financial pressure.The current level of retail discounting in a period where retailers tend to try to maximise their margins is indicative of this.
"Most will endeavour to trade through Christmas, though, and any traditional post-Christmas sales to move their stock, so January and February will be telling. The number of recent retailers who did not even make it to the Christmas period shows that the sector is coming under real pressure."
Tha poor cnts'll be really f***ed if ever I give up smokin' 'n drinkin' - LOL
Damn, I carries tha economy on me back I tells ya - Carries it on me back ...
Well, me 'n all those poor silly dudes paying stamp duty, 'n CGT 'n land tax 'n interest on their mortgages plus workin' 'n shit when they could just be smokin' 'n drinkin' like me maybes? ...
Anyways, how's sushi 'n saki sales holdin' up in tha Land of Nippon Tezza?
Not ta mention mutton sales in tha Land of tha Long White Cloud of course ...
Tha poor cnts'll be really f***ed if ever I give up smokin' 'n drinkin' - LOL
Damn, I carries tha economy on me back I tells ya - Carries it on me back ...
Well, me 'n all those poor silly dudes paying stamp duty, 'n CGT 'n land tax 'n interest on their mortgages plus workin' 'n shit when they could just be smokin' 'n drinkin' like me maybes? ...
Anyways, how's sushi 'n saki sales holdin' up in tha Land of Nippon Tezza?
Not ta mention mutton sales in tha Land of tha Long White Cloud of course ...
"Tha poor cnts" are vital to the economy Jethro. It's not obvious to the single dimensions that whirl around inside your mental chemistry, but the suburbanites are increasingly tapped out. If they cannot shop spend like drunken sailors, it has a ripple effect beyond what you can comprehend.
"Tha poor cnts" are vital to the economy Jethro. It's not obvious to the single dimensions that whirl around inside your mental chemistry, but the suburbanites are increasingly tapped out. If they cannot shop spend like drunken sailors, it has a ripple effect beyond what you can comprehend.
By "Tha poor cnts" does ya means us drinkers 'n smokers Tezza? - Or tha retailers?
"Tha poor cnts" are vital to the economy Jethro. It's not obvious to the single dimensions that whirl around inside your mental chemistry, but the suburbanites are increasingly tapped out. If they cannot shop spend like drunken sailors, it has a ripple effect beyond what you can comprehend.
It's all about the feel and the quality of the press release for roddy. He can't understand the numbers so he just howls at the moon.
Clothing isn't the whole market.
In any case my wife has been Xmas shopping since this story came out, and I think she has pretty much singlehandedly saved Australian retail. The shops are full, so maybe counting the profits for this season now is a bit premature.
Take risks - if you win you will become wealthy, if you lose you will become wise
In any case my wife has been Xmas shopping since this story came out, and I think she has pretty much singlehandedly saved Australian retail. The shops are full, so maybe counting the profits for this season now is a bit premature.
Yes, focusing on consumer staples is much more relevant. Had a good conversation with a strategist a few weeks back who said that Aldi is capturing share primarily because mid-income suburbanites are tapped out and migrating to where costs are lower.
Yes, focusing on consumer staples is much more relevant. Had a good conversation with a strategist a few weeks back who said that Aldi is capturing share primarily because mid-income suburbanites are tapped out and migrating to where costs are lower.
Of course that's all hearsay.
Yes I think we will see the profits of Target and Kmart etc do better in these tough times as consumers move away from labels and move to more generic brands.
I personally have been doing this for the last five years.
Yes I think we will see the profits of Target and Kmart etc do better in these tough times as consumers move away from labels and move to more generic brands.
I personally have been doing this for the last five years.
That's not the only reason. Generic's have all upped their quality.
Jeans for example, you're hard pressed to find a reason a $100 pair is better than a $20 pair.
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