Ronny,I suspect you are correct, and that is a fair and...

Ronny,

I suspect you are correct, and that is a fair and reasonable way of looking at the situation......

I have said a few times over the last 6-9 months, that a combination of highly geared households, potential for an inc in funding costs, and banks being less willing to lend, all suggest that discretionary retail is not a place to be.......

we know that it will take quite some time for the "adjustment" in household debt levels to play out, and that "if" property prices were to actuallt tank (say 25-35% off), then our beloved consumer would be broke ......

we saw a similar thing in the usa post the gfc, ditto Ireland......

the positives - it has an ungeared bal sheet, and so should be able to ride-out this turbulent time (say 2 yrs)........

given the above (if you agree), is do people think this will be the "last" fall in samestoresales .......

just imagine what happens when harvies / jb's come out and confirm the (what appears) industry wide slowdown......

rgds

Value_Hunter