Ann: H1 FY2020 Trading Update, page-6

Those interested in the key economic drivers of the retail apocalypse will find this set of charts illuminating.

https://www.macrobusiness.com.au/2020/01/retail-bloodbath-has-only-just-begun/

It isn't catastrophic bushfires or coronavirus. It is the tapped-out consumer determinedly diverting all available discretionary income to pay down debt. This is a much more important factor than on-line sales taking away from bricks 'n mortar, particularly as all significant retailers have on-line platforms and capture a useful proportion of on-line sales themselves.

Further, Aussie consumers are the least confident in the world.

"Only 12% of Australians (down 32% points on a year ago) expect 2020 will be a ‘better year’ than 2019."

http://www.roymorgan.com/findings/8248-next-year-better-or-worse-australia-and-world-2020-202001280510

Ash