Retail sector struggling under deluge of bad news
Signs of distress in the retail sector have jumped despite a general cross-sector wane in 'negative warnings', according to new research.
Signs of distress in the retail sector have jumped despite a general cross-sector wane in 'negative warnings', according to new research.
Link: Profit warnings buck optimistic outlook
Indicators of problems in the high street – ranging from downsizing and profit warnings to administration – leapt by 56% in the first quarter of the year on the previous three months, up 42 to 116 negative statements.
The figure was almost unchanged from the same period in 2003, when war in Iraq and SARS helped inflate the number of warnings.
Across all sectors there was a 10% year-on-year decrease of negative warnings, though they rose marginally on the previous quarter.
Philip Davidson, KPMG’s head of restructuring, said: ‘Retailers are once again not finding it easy to make profits this quarter, as margins remain under pressure and keen pricing is required by consumers.’
In the past decade, the professional services industry has transformed significantly. Digital disruptions, increased competition, and changing market ...
View resourceIn recent months, professional services firms are facing more pressure than ever to deliver value to clients. Often, clients look at the firms own inf...
View resourceIn a world of instant results and automated workloads, the potential for AP to drive insights and transform results is enormous. But, if you’re still ...
View resourceThe first phase of Making Tax Digital (MTD) saw the requirement for the digital submission of the VAT Return using compliant software. That’s now behi...
View resourceInsolvency statistics in the UK for the second quarter of 2023 were the highest since 2009 with 83% of them relating to small businesses Read More...
View articleThere were 6,342 recorded company insolvencies in Q2, reflecting a 9% increase compared to the number of insolvencies in Q1, and a 13% increase compar...
View articleThe survey paints a “brightening” picture of the global economy, according to the ACCA Read More...
View articleThe pandemic may have “distorted” some economic data Read More...
View articleAdvisory firms must offer a “more supportive” and holistic approach to clients amid the economic downturn Read More...
View articleHaving a clear plan and clean data to help optimise the use of scarce resources will be key for businesses Read More...
View articleThe Coronavirus Job Retention Scheme has supported millions of jobs amid the pandemic, but with the support measure set to end in September, how can a...
View articleShift from BBL debt to equity could pose wider business implications Read More...
View article