Retailers face grim time
NZPA Sydney A number of retailers may “go to the wall” during 1977 according to the chairman of Norman Ross Discounts, Ltd, (Mr Gerald Harvey) at the annual meeting. The retail industry is currently passing through “a phase of extreme difficulty, and a number of our opposition have released financial results which show no profit over the past six months" Mr Harvey said. Discussing the company’s activities so far this year, Mr Harvey said that sales for the first 22 weeks were up seven per cent on last year. Although dealings in the past couple of weeks had been seriously affected by the petrol shortage, the devaluation news had seen boosted sales.
“Colour TV sales this week are the highest since the introduction of colour TV,” he said.
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Press, 9 December 1976, Page 24
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132Retailers face grim time Press, 9 December 1976, Page 24
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