David Jones’ Perth CBD store reports massive slump in sales as rate rises weigh on customer spending – Medical Marijuana Program Connection

The flagship Perth store of upscale retailer David Jones is bleeding money as a rapid round of interest rate hikes continues to weigh on customer spending.

Sales figures leaked to The Australian reveal massive double-digit hits to sales across the department store chain’s national network, with cost of living pressures fuelled by the Reserve Bank’s cash rate increases blamed by management for the slump.