Retailers feel the pinch
4:00AM Sunday Oct 26, 2008
Nicola Shepheard

Shoppers are set for bargains on big-ticket items as retailers start to feel the full effects of the sales slump and increase in import prices.

More economic gloom is forecast, with world leaders waking yesterday to news that Wall St had closed at five-year lows, while latest Statistics New Zealand figure showed a sharp fall in sales of "discretionary" items.

New and used cars were hardest hit, with sales in August down 21.4 per cent year-on-year. Close behind were furniture and floor coverings, with sales falling more than 21 per cent. Hardware dropped 9.1 per cent and appliances 2.3 per cent.

Noel Leeming Group chief executive Andrew Dutkiewicz told the Herald on Sunday that appliance and entertainment chains Noel Leeming and Bond & Bond were seeing a "reasonable slowdown" in sales of big-ticket items

"We still sell thousands of TVs a week but it's lower than last year."

More here.