Ah so I am so stupid sometimes
Retail sales still look pretty robust if you believe the chart from ABS shoen below
Michael Pascoe had this in the SMH the other day about Myer - Was anyone surprised that Myer continues to slide? No, I thought not. And the best insight into the chain’s problems might well come from an anonymous butcher in Sydney’s Sutherland Shire: “If the number of people coming into my shop drops off, it’s my fault and it’s up to me to fix it. If they start buying more mince instead of rump steak, that’s the economy.”
Rather good I thought .... and as one punter aptly said yhe problem with Myer and David Jones they don't sell the mince
GS prob thinks the retailers just have to face up to changing times and sort themselves out.
Notice how the headlines in Australia always seem to be the same as we saw in The Press etc four or five yewars ago .... and even Postie Plus survived
Read more: http://www.theage.com.au/business/re...#ixzz1vrbAOL1v