PWC
This coverage examines PwC’s analysis and advisory work within the UK retail sector. Reporting focuses on insights from PwC’s Retail Outlook 2025, which addresses margin pressures, cost headwinds, and consumer sentiment trends. Coverage includes PwC’s commentary on retail sales figures, store openings and closures, and the impact of economic policies on retail operations. These insights are tailored for retail executives, financial planners, and professionals seeking data-driven perspectives on retail strategy and performance.
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Nov- 2018 -9 NovemberComment
What does the Black Friday of the future have ‘in store’ for us?
Black Friday, a term which originated in the US and refers to the first shopping day after Thanksgiving, has become common parlance in recent years. The specific meaning behind the phrase is still a matter of debate, with theories ranging from “the first time retailers start to show a profit…
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9 NovemberHigh Street
Gap between retail closures and openings continue to widen, says PwC
A combination of growth in online shopping, shift to in-home leisure, heightened restructuring activity and ongoing digitisation of services has seen the half-year net reduction in stores on Britain’s high streets reach record levels, according to PwC. According to research compiled for PwC by the Local Data Company (LDC) a…
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Sep- 2018 -14 SeptemberHigh Street
Sports Direct struggling to find auditor as EY, KPMG and PwC refuse role
EY, KPMG and PwC have all declined to take on an audit of Sports direct as the company attempts to find a replacement for Grant Thornton. According to Sky News three out of the ‘big four’ accounting firms have declined to take up the role due to potential conflicts of…
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Jun- 2018 -21 JuneClothing & Shoes
Sir Philip Green seeks judicial review as PwC court battle kicks off
The former owner of BHS and current Topshop and Arcadia owner, Sir Philip Green, has requested a judicial review of the Financial Reporting Council’s (FRC) report into PwC’s handling of the retailer’s audit shortly after collapsed. As the hearing into the report prepares to be taken to the High Court…
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13 JuneHigh Street
PwC hit with record £10m fine for BHS audit
PricewaterhouseCoopers (PwC) has been fined £10m for its handling of the BHS audits and the Taveta Group in 2014. The sanction follows an investigation by the Financial Reporting Council (FRC) under the Accountancy Scheme which opened in June 2016 two months after the retailer’s collapse. PwC signed BHS off as…
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Feb- 2018 -28 FebruaryElectrical
Maplin and Toys R Us go into administration
Toys R Us and Maplin have both entered administration today, as last minute attempts to save the retailers collapsed. Toys R Us was facing a £15m VAT bill, however poor sales has meant it was unable to pay the debt. All of toy retailer’s 106 stores will continue to trade…
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