Retailpocalyspe rolls on as Myer warns

Wednesday, 16 May 2018

Yesterday the hapless RBA claimed victory on household consumption. Today Myer gives the truth of it:

Absolutely cooking at same store sales down only -3%! As cheap as discretionary retail is it ain’t worth owning as house prices fall, via Credit Suisse:

We’ll have to get into major chain bankruptcies and rationalisations before the sector will represent value:

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About the author

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.