Hayne gets blame for retail spending squeeze

Original article by Sue Mitchell
The Australian Financial Review – Page: 1 & 4 : 17-Jan-19

Australian retailers had mixed fortunes during the crucial Christmas shopping period, according to analysts. Data from ShopperTrak shows that shopping centres recorded a 12.2 per cent decline in customer traffic in December, including a 23 per cent fall in the week to December 30. Meanwhile, retail adviser James Stewart says factors such as falling house prices and tighter access to credit in the wake of the financial services royal commission are weighing on consumer spending. He adds that more retailers are likely to go into administration in 2019 following the recent collapse of clothing chain Ed Harry.

CORPORATES
SHOPPERTRAK INCORPORATED, ED HARRY MENSWEAR, MORGAN STANLEY AUSTRALIA LIMITED, MICHAEL HILL INTERNATIONAL LIMITED – ASX MHJ, KATHMANDU HOLDINGS LIMITED – ASX KMD, THE REJECT SHOP LIMITED – ASX TRS, KMART AUSTRALIA LIMITED, NONI B LIMITED – ASX NBL, THE PAS GROUP LIMITED – ASX PGR, WESFARMERS LIMITED – ASX WES, NOMURA AUSTRALIA LIMITED, WESTPAC BANKING CORPORATION – ASX WBC, UNIVERSITY OF MELBOURNE. INSTITUTE OF APPLIED ECONOMIC AND SOCIAL RESEARCH, AUSTRALIA. ROYAL COMMISSION INTO MISCONDUCT IN THE BANKING, SUPERANNUATION AND FINANCIAL SERVICES INDUSTRY

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google+ photo

You are commenting using your Google+ account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s