Retail slows as shoppers scrimp
for fear of losing jobs fear of carbon tax"We've got 5 per cent unemployment and we're going on as if there's 12 per cent unemployment, Gerry Harvey "Harvey Norman" chairman said.
Gerry ask Tony Abbott, he created it and he can stop it!
It shows he will to get power at any priceThe Australian economy is in great shape, so why are people so frightened, how come, it doesn't make sense?
We have now one of the strongest economies in the world.
The people of Australia have been ABBOTTIZED which is something similar to lobotomized.
In other words they have bombarded by a negative campaign of monumental proportion by News Ltd and the Coalition.
Retailers in Australia and shareholders must be sick to death of this scare mongering when they see themselves paying the price for this peddling of fear throughout Australia.
Shoppers are shunning department stores, homeware shops and cinemas, creating a retailing slowdown as they strip their spending back to basics.
Investors punished the retail sector yesterday after David Jones forecast a 20 per cent fall in profit over the next six months.Its share price fell 18 per cent.
Shareholders dumped the company's stock, in a sell-off that spread to other big retailers.
Myer suffered a 6.4 per cent fall in its share price.
Wesfarmers the owner of Coles, Kmart, Officeworks and Bunnings -- fell 2.6 per cent.
Harvey Norman fell 4.6 per cent.
As the retail giants prepare to unveil their 2010-11 revenues in the coming weeks, sales data provided by tenants of Australia's biggest shopping centre owner, Westfield, reveals a slowdown in spending at key retailers in its 37 shopping malls.
IF THIS IS A BAD YEAR, HEY I LIKE IT LIKE THAT!