Here is a record of an interview with Mark McInnes, former head of David Jones and current head of Premier Retail, discussing the closure of 50 stores in the Just Group announced recently.
The interview contains commentary on the retail sector, and the future of retail tenancies in particular, including:
- comment on centres that are seen to be failing as compared to those seen to be weathering the current difficulties, and in particular on the impact of capital expenditure by landlords;
- comment on the impact of overseas online sales and the high threshold for GST payable on them;
- discussion of landlords’ negotiating strategies; and
- discussion of the impact of EBAs and other pressures on retailers’ costs in Australia.