The much publicised retail downturn has impacted on the Australian share market with key retailers losing significant value as their share price tumbled.
The S&P 200 Retailing index slumped 34 per cent in 2011, as the share price for JB Hi-Fi slumped by 33 per cent, Harvey Norman lost 38 per cent and department stores David Jones and Myer both dropped more than 40 per cent.
Surfwear manufacturer, Billabong, lost three quarters of its value as it continually announced profit downgrades and struggled with its strategy to operate its own stores. 2012 is expected to continue the difficult conditions and business uncertainty experienced in 2011.