UBS has forecast that Australian retailers’ discretionary sales will grow by just 1.2% year-on-year during the Christmas 2018 period, compared with around 3% in the last three years. Ben Gilbert of UBS says the expectation of weaker retail sales has yet to be reflected in official data, but that a number of retailers have already downgraded their earnings forecasts or warned of the difficult trading conditions. From The Australian:
“While this is yet to show up in ABS figures we expect Christmas to be challenging, creating risk to forecasts,’’ Mr Gilbert said.
