Best and Less adds to retail shock

Tuesday 20 June 2023

Another warning for discretionary retail:

With both B&L and DJs now suffering, as well as various specialty stores, it looks like rich and poor alike are feeling Albo and the RBA’s sting.

As real wages crash and the RBA hikes again into an intensifying fixed-rate mortgage reset, the pain will get worse.

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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.