retailers will start incurring costs such as rent, stock purchases and wages, though the latter will be subsidised by the government's JobKeeper stimulus package to some extent.However, a resumption in costs is unlikely to be matched by a return in demand, Mr Umbers warned, pointing to the experience of retailers following the global financial crisis when things like foot traffic into stores and consumer confidence took a significant time to recover.
Some of the worst pains will be felt by fashion retailers, he said, as they will be left with warehouses full of off-season stock. "[Fashion retailers] will reopen again but footfall will be down and the product they have will be very, very difficult for them to be able to charge a margin on," he said.
To combat this, he believes the government will need to carefully assess the ongoing scope and scale of the JobKeeper package and engage with both the retail and hospitality sectors, as it was important to give employees as much certainty as possible. "I think we're likely to see a sustained period of nervousness until people have the confidence that businesses are back on track and they feel secure about their future," he said.
domp Death of retail thanks for our politicians !
domp Wow, what a sage!
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Australia Latest News, Australia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Former Liverpool star loses skin cancer battleTributes have poured out for the forward who was a part of Liverpool's 1984 European triumph. ❤️️ 9WWOS EPL
Source: wwos - 🏆 12. / 68 Read more »
Former top Obama adviser says Tony Abbott didn't 'really know what he was talking about'A former Obama adviser has recounted how the former US president's team watched Julia Gillard's misogyny speech to deal with frustrations with former Australian prime minister Tony Abbott. Lots of Australians did as well. BarackObama We just need a good one on ScottMorrisonMP now....... And yet Obama’s political party is now in opposition and having to resort to desperate tactics to salvage their loss of power, with support from media outlets who lean the same way politically. This article for example SBS I’m sure Tony Abbott would have not thought much about Obama either.
Source: SBSNews - 🏆 3. / 89 Read more »
Former top Obama adviser says Tony Abbott didn't 'really know what he was talking about'A former Obama adviser has recounted how the former US president's team watched Julia Gillard's misogyny speech to deal with frustrations with former Australian prime minister Tony Abbott. Lots of Australians did as well. BarackObama We just need a good one on ScottMorrisonMP now....... And yet Obama’s political party is now in opposition and having to resort to desperate tactics to salvage their loss of power, with support from media outlets who lean the same way politically. This article for example SBS I’m sure Tony Abbott would have not thought much about Obama either.
Source: SBSNews - 🏆 3. / 89 Read more »
Modelling predicts Australians lost income to total $60 billion | Sky News AustraliaNew Deloitte Access Economics modelling has predicted Australians' loss of income due to coronavirus lockdown measures will total $60 billion by the end of July. \n\nThe accommodation and food service sectors have been the hardest hit with an estimated $8 billion loss. \n\nImage: Getty send the invoice to the 🇨🇳 CCP
Source: SkyNewsAust - 🏆 7. / 78 Read more »
Clive Palmer buys 33 million doses of experimental, potentially dangerous COVID-19 drugFormer MP and billionaire Clive Palmer has bought newspaper ads stating that he has purchased almost 33 million doses of an experimental drug some have claimed works against COVID-19. 9News Profiteering bastard. Did he ever pay his workers their wages and entitlements? Just curious- if it were Gate's vaccine, would you still be front loading the ppl with words like 'experimental' and 'dangerous'? elonmusk and JamesTodaroMD thinks it's plausible YouTube Facebook censorship and your mainstream media propaganda seem to be shutting it down. Stop working for crooks likes Gates and Fauci...you are supporting PopulationControl HiddenEnemy ID2020
Source: 9NewsAUS - 🏆 10. / 72 Read more »
China shows 'the gloves are off' by leaking private conversations | Sky News AustraliaCommunist China leaking sensitive conversations of senior Australian public servants demonstrates it is 'not interested in returning to the status quo' with Australia says former Labor minister Stephen Conroy.\n\nMr Conroy told Sky News host Peta Credlin the Chinese government on Tuesday leaked 'some edited comments' from a phone call with the Secretary of the Department of Foreign Affairs and Trade Frances Adamson.\n\n'That leaking to their own advantage of a private conversation demonstrates they're not interested in returning to the status quo'.\n\nHe said the Chinese communist government 'want to bend Australia to its will'.\n Well, we can also take the ice hockey approach with China. Drop the gloves, grab them by the jersey, pull it over their heads and then punch the living shit out of them. Simple that status quo was Australia selling 1/3 of its exports to Australia. It is ludicrous for silly right-wing politicians to antagonise China for no result. We face an enormous recession. Do we wan to lose our best customer? Stuff them. China. We have fought wars to keep our sovereign status & lost millions of lives protecting our rights. So will we give in to the communists now. Nope. Bring it on if required. We will do it again if necessary. Protecting our sovereignty. China be ware.
Source: SkyNewsAust - 🏆 7. / 78 Read more »