Nov 9, 2026 (Australian Retail Council - ABIX via COMTEX) --
David Jones was destroyed by new patterns of consumer behaviour that are set to hit not only many areas of retailing, but also the value of retail freehold property. The retail revolution comes as government authorities are attacking the business sector with a brutality rarely seen in Australia's history. Official interest rates are at an 18-year high, and the Chalmers budget set out to substantially reduce the value of residential dwellings, which form the capital of a great many family enterprises and underwrite consumer confidence. In turn, many of those enterprises are organised in trusts, so their tax burden is to be substantially increased. At the same time, chaotic industrial relations laws make employment hazardous and expensive. Meanwhile, consumers are increasingly going to stores, finding a product that meets their needs, and then buying it online - often at a much lower price.
COMTEX_1002577933/2229/2026-11-09T13:28:42
