Retail Sales likely under reported.If money supply has increased YTD 3.4% and immigration has increased how is it possible for retail sales to dramatically decrease?
StatsCan has a history of under representing inflation. I can't back this up but look at pictures of people in line at a food bank. I think many Canadian families can't keep up with inflation.
Economics 101 Supply and Demand
Apparel suppliers are concentrated vs demand which is dispersed. Reitmans has a fortress like balance sheet which means it can withstand a couple of quarters of losses. Companies with avriable debt may not be so lucky