Originally posted by adr1an That does sound familiar...
The same report also shows that retail margins are higher in Oz than for other countries - and shareholder return on equity for retail is higher than any other sector aside from mining.
The same report also says things about lack of competition in the sector and the structure of the market and regulatory environment affecting the sector. Etc. So one or two quotes don't quite tell the story. And it is pretty clear that labour costs and proudtivity are only a small slice of the issue. Don't blame the workers!
It's a good report, well worth a full read. People like Gerry Harvey though may regret asking for it to be produced as it exposes the hollowness of their claims about overseas retail and the lack of GST on under $1000 imports killing their business.