KMD rates downgrade as retail sector faces 'messy year'

KMD Brands' performance has been worse than expected. (Image: Kathmandu)

Fri, 22 Dec 2023

Retailers shouldn’t expect much cheer in their Christmas stockings on Monday, with 2024 heralding a soft period for consumer spending on the back of high household debt, growing credit arrears and a likely jump in unemployment. Investment house Forsyth Barr says retailers can expect a “messy year” ahead as fixed-rate mortgages are still rolling onto higher rates and mortgage rate relief will "take time" to materialise.Analysts Margaret Bei and Paul Koraua said the gloomy prognosis could be tempered by the slight...

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