Outlook for retailers grows ever gloomier
Local retailers are on a knife edge as they face another year of almost no economic growth and weak spending, which is likely to lead to further store closures and job losses in the sector, analysts warn.
As Evan Walker, a portfolio manager at 36ONE Asset Management, says: "People aren't running out to buy lounge suites and linen when they can't pay their electricity bill. And we're not immune to online challenges anymore."..