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Retailers prepare for battle ahead

Retail has never been for the faint-hearted but never more so than today, as margins and profits are squeezed by market competition and rising costs. As IRW has reported, the pressure cooker conditions in the retail market have forced retailers such as Wesfarmers (Target and Bunnings UK), Myer and David Jones to writedown assets and goodwill. IRW has also previously reported moves by retail chains, including Specialty Fashion Group and Premier Retail, to cull their store networks and to seek low