Softening sales: What to expect from the FY23 reporting season

What to expect ahead of the FY23 reporting season. Bigstock
What to expect ahead of the FY23 reporting season. (Source: Bigstock.)
Analysts are sounding the alarm for several retailers as they anticipate a slowdown in performance during the FY23 reporting season. It comes as consumers grapple with rising cost of living and other economic pressures. The signs are already looking rather grim, with Best & Less reporting a $9 million drop in sales for the five weeks to 18 June. During this period, online sales fell by 19.6 per cent, while its physical store turnover dropped by 12.5 per cent. Adairs has flagged a subdued tra

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