BDO: May retail smashed

Remember that BDO fast data retail index that shows Budget damage? It’s not improving, from UBS via the SMH blog:

PC_wide_27May-retail-sales-620x349

Weekly sales from the BDO Australian Retail Sales Index suggests sales through May have deteriorated across retail - down 6 per cent month-on-month – with fashion hit harder, down 7 per cent m/m.

“This data is consistent with recent trade feedback suggesting a material decline in sales across the fashion industry since the federal budget,” write the analysts.

Fashion retailers are most at risk of a slowing sales, including Premier Investments (owner of chains such as Just Jeans and Portmans), the department stores David Jones and Myer, discount stores such as Target, as well as Rebel (owned by the listed Super Retail Group).

It is important not to get too caught up in one month of retail data,” note the analysts. “However, soft sales during the key winter selling period inevitably leads to heightened promotional activity and margin pressure.”

“We would also note negative newsflow around the budget is likely to continue for some time, increasing the likelihood that weaker sentiment continues into FY15.”

Yep.

8 Responses to “ “BDO: May retail smashed”

  1. churlish says:

    It’s our own version of “weather”.

    • Gunnamatta says:

      Yep, we are having an early onset TestosterTone winter….

    • wasabinator says:

      I’m personally expecting to see full page spreads of Gerry’s mug all over the papers with a call again for lower limits where GST applies on imports. Forget about the retail sector actually being competitive.

      • Diogenes the Cynic says:

        I have noticed even with the mute on during the AFL broadcast that Gerry has recently upped his interest free loans to 5 years! It was 24 months then 36, then 48 now 60 months! Hardly Normal goods must be rushing out the door…

  2. Ortega says:

    Headlining at Fairfax.

    http://www.theage.com.au/business/the-economy/financial-stress-levels-rising-rapidly-survey-20140527-39171.html

    “According to Dun and Bradstreet Australia & New Zealand chief executive Gareth Jones, “the upward trajectory is concerning”, considering the otherwise relatively healthy economic data.”

  3. Explorer says:

    Brought to you courtesy of the Liar in Chief, Tony Abbott and his Budget of Betrayal.

    • Bluebird says:

      I think it’s more a courtesy of a profligate, greedy and self entitled population, Abbott just came along with the cops to turn the music down 1 notch, and then the partyers realised how off their face they were.

      Well I still don’t think they realise how off their faces they are. That’s the thing with drugs.

  4. saintmatthew says:

    there must be a few nervous landlords about too