Monday 13 December 2010

How long will The Reject Shop last in Yamba?


Maud Up The Street tells me that yet another bargain store is trying its luck in Yamba Fair shopping centre. This must be at least the fourth such store which has parked itself in the same spot in the last ten or so years.
Maud reckons it’s losing customers already because it assumes that everyone coming through its door is a potential shoplifter – ‘let me look in your bag’ seems to be the mantra - and not a month into this store’s life media reports are also saying the whole chain is just not drawing a big enough crowd:

“THE worst Christmas "for a very long time" has seen The Reject Shop slash its profit forecast - and its shares savaged. Investors wiped more than 20 per cent off the low-end retailer's share price, while the shock profit warning sent shudders through the nation's retailers and weighed on the shares of other retailers.
Reject Shop chief executive Chris Bryce blamed the Reserve Bank of Australia's increase in interest rates in early November for a sudden drop in customers through its 195 shops.”

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