Shop horror: outlook grim for retailers as consumers struggle
Until the economy brightens and consumer spending improves, things aren’t going to change, analysts say
The JSE’s general retailers index has had its worst year in almost two decades, encapsulating what has been an annus horribilis for the sector as it battles a depressed consumer environment.
Analysts say the outlook is unlikely to change until momentum in the wider economy – hobbled by poor growth and widespread joblessness – improves and consumer spending power recovers.
The aftermath of ill-fated international expansion efforts is also weighing on a number of shares, with the likes of Woolworths, Truworths International and Shoprite all working hard to regroup...