Fat Cats

Dear Reader,

Is is not amazing how short the human memory is? As we speak most the major retailers are putting there case on Talk Radio 702 about how hard done by they are because of the textile quotas. They are crying foul that clothing prices are set to soar because they now have to procure locally and not from China. What they always fail to mention is that when they started importing "Big time" in 2002 they NEVER dropped the prices. They never gave the consumer the benefit then, and now they again are saying that the consumer is again going to feel the brunt of the so called increase! Why don't they cut their huge margins and make a profit but not such a huge one?

Did you know that South Africa's largest retail groups profit went from 2 billion in 2002 to 6 billion in 2006 Why? My reason is because they imported at the expense of the local industry in the interest of profit.

Have your say, I would like to hear your take on this.

Regards

Team RSA Leisurewear