Some of the country’s largest retailers are warning shareholders about uncertainty after weak trading periods ahead of the Black Friday and Christmas rush. Concerns are rising over consumer confidence, rate hikes and discretionary spending.

The warnings come as most of Australia’s ASX-listed retailers report their early fiscal 2027 trading figures prior to AGM season. These disclosures, while often including positive top-line results, include steady outlooks.

One example is the country’s largest electronics retailer, JB Hi-Fi. After posting record sales in fiscal 2026, the retailer told investors that sales in Australia fell 1.4 per cent from July 1 to September.

Sales at JB Hi-Fi’s The Good Guys and its kitchen retailer, E&S, have fallen by 0.4 per cent and 4.5 per cent, respectively.

“The group continues to see variability in trading and heightened competitive activity, with customers remaining focused on value and increasingly shopping during promotional events,” the company’s board said.

“In October, the group has seen sales slow ahead of the important Black Friday and Christmas trading periods. As always, the group will continue to focus on driving demand and growing market share through creating great value offers for its customers and delivering exceptional customer service.”

Ken Mackenzie, the longstanding chairman of retail giant Wesfarmers, was far more scathing in an address to investors.

“Our economy is facing headwinds – low growth, weak productivity, dismal confidence and limited ambition or capacity for reform,” he said.

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