Labor-aligned economist Stephen Koukoulas said this on 'X' re an...

Labor-aligned economist Stephen Koukoulas said this on 'X' re an ABS release re retail sales for the March quarter 2924:

Miserable retail sales.
In real terms, -0.4%; down 6 of last 7 qtrs - wow.
Down 5.7% in real per capita terms from peak - wow squared.

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So it won't be just LAU affected. Even huge Linfox (key competitor) must be suffering.

He then called for the RBA to cut interest rates. The problem though is our inflation is higher than some major nations, but are interest rates are below these other countries.

Who knows if it'll do it at 1430 AEST today but the Reserve Bank has to increase cash rates at some stage, not cut them. This in turn will push up interest rates. LAU says its gearing is manageable: let's hope so.

We can thank Albanese, his Federal Labor government, the terrible debt situation that Victoria's Labor-Greens government has got that state into and unions like the CFMEU achieving 20 per cent wage rises for the likely cash rates rises.