NAB economists are using the ‘R’ word following their Monthly Business Survey for May found further deteriorations in business conditions. This is another bad report for retailers who have been struggling with sluggish sales this year amid rising costs and tougher competition. The Reserve Bank has also come out with a doom and gloom statement suggesting retail is the worst-performing industry in Australia.
Are we about to see another group of retailers head the same way as Roger David, Laura Ashley and Metalicus (to name a few) who were recently forced to shut their doors? Roger joins Chris Ilsley from 6PR to discuss the current challenges facing retailers here in Australia.