Trading conditions in the second half have deteriorated substantially with a further decline in consumer spending, Woolworths said on Friday. The retailer said the drop was due to "additional interest rate hikes and increases in fuel and food prices". The food and clothing giant said that middle and upper middle income consumers had felt the pinch of current economic conditions particularly strongly. - Sapa
Trading conditions in the second half have deteriorated substantially with a further decline in consumer spending, Woolworths said on Friday. The retailer said the drop was due to "additional interest rate hikes and increases in fuel and food prices". The food and clothing giant said that middle and upper middle income consumers had felt the pinch of current economic conditions particularly strongly. - Sapa