Customers faced with the rising cost of living and higher interest rates are spending less at bedding and furniture group Adairs, which warned its annual profits will be hurt after sales eased this quarter.
Adairs, which is due to release its annual results on August 21, is the latest retailer to flag on Friday that consumer spending is drying up, following Wesfarmers chief executive Rob Scott’s warning this week that “the honeymoon is very much over”.
Loading...
Jemima Whyte writes on business, specialising in companies, capital markets and innovation. Jemima has reported on business for The Australian Financial Review for more than 13 years. Email Jemima at jemima.whyte@afr.com
