ASX retail stocks are on a horror run for good reason
Sharemarket traders are positioning for a steep downturn across the Australian economy as small-cap retail companies skewed towards middle and low-income earners get dumped in anticipation of a rough 12 months ahead.
The alarm bells rang louder on Wednesday, after ASX-listed budget-fashion bellwether Universal Stores said shoppers cut their spending in April and May as cost of living increases – including rents and food prices – hurt young shoppers.
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