As shrinkflation spreads the retailers tumble, via UBS:
Discretionary retail news illustrates pressure in the sector
The specialty apparel retail environment is showing signs of strain. In the past week, Rhodes and Beckett, Herringbone, David Lawrence and Marcs have entered Voluntary Administration. Together they represent 92 stores (excluding concessions). They join Payless shoes, Pumpkin Patch and Howard Storage which entered VA in November/December last year (217 stores). We will continue to monitor ongoing stores closures. In addition Allphones closed 18 company owned stores post going into administration.
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David Llewellyn-Smith is Chief Strategist at the MB Fund and MB Super. David is the founding publisher and editor of MacroBusiness and was the founding publisher and global economy editor of The Diplomat, the Asia Pacific’s leading geo-politics and economics portal.
He is also a former gold trader and economic commentator at The Sydney Morning Herald, The Age, the ABC and Business Spectator. He is the co-author of The Great Crash of 2008 with Ross Garnaut and was the editor of the second Garnaut Climate Change Review.
