First it was Clive Peters and now DFO. Another dire view of the retail industry with many more to come i'm sure.
Consumer-related industries are on there knees.
I know alot of people in the Hospitality industry are also suffering through my own business, going out for dinner has been replaced by eating in. Check out your local supermarkets, ours has never been so busy. Company chiefs at Coles Supermarkets said there 10 dollar dinner promo with celebrity chef Curtis Stone was a massive coup for them and has added a substantial amount to there recent profit upgrade.
Yes, i know its winter and people do stay indoors more and we have had 6 or 7 straight interest rate rises.
If this trend continues into spring and through summer, we're going to see a big jump in unemployment in my opinion. They've already come out and told us full-time jobs are on the wane. Who can service spiralling mortgage repayments on part-time work?
I wonder if the really smart people in real-estate are now selling up and investing in debt-collection and the child-minding businesses. Thats where i'd like to be.
