/ 17 January 2023

At the shops…

Image source: Getty
Image source: Getty

Warning: there will be a bunch of important economic data coming at us this year as policymakers brace for a downturn. To keep you limber, the latest results from a couple of retailers are informative, starting with Super Retail Group – the mob that owns Rebel Sport, Supercheap Auto and BCF (the outdoorsy shop with the Aussiest ads on telly…). Yesterday, it told investors that its profit for July-December will probably be 20% higher than expected, falling over the $200 million mark. What the company and analysts say is it shows that Aussies aren’t cutting back their spending, despite interest rate hikes. They also say that might continue into this year if prices start to fall with China opening up. But that’s not a theory that covers everyone… Baby Bunting, the nation’s biggest seller of prams and cots, is predicting a 59% slump in half-year profits on last year. It says it has lowered prices while incurring higher supply chain costs. Retail, it’s a tricky business…

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