Icelanders Put a Chill in Their Retail Forecast

Evening Standard - London › July 02, 2007

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Summary

RETAILERS face a tough few months ahead, and this time they will not be able to blame it on the wet and windy weather conditions.

Icelandic broker Kaupthing warns trading will become increasingly nervous in coming months, with economists predicting at least one more rise in interest rates, which would lift them to 6% and force consumers to reduce spending in the all-important run-up to Christmas and beyond.

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Extract

Icelanders Put a Chill in Their Retail Forecast

Kaupthing says the most vulnerable retailers to dearer money and a subsequent drop in spending include Next, down 38p at 1971p, for which it has set a target price of 1850p, Blacks Leisure, off 214p at 30934p ...

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