UK Retail sector: Trading in Are you ready for a perfect storm?
|
|
- Madlyn May
- 6 years ago
- Views:
Transcription
1 UK Retail sector: Trading in 2017 Are you ready for a perfect storm?
2 A perfect storm is brewing in retail as rising external pressures meet deepening structural challenges What risks and opportunities lie ahead and what should retailers be doing, not only to weather the storm but to also shape the future? An EY panel with a wealth of retail expertise held a webcast to discuss their views and ask participants for their insights.
3 Headlines 1 Impact 2 Apparel 3 Going 4 The 5 M&A of a falling pound and unrelenting cost pressures further tightens the margin vice and DIY regarded as the most vulnerable to the squeeze beyond optimising the core requires a new level of risk taking biggest innovation challenge can be one of mindset rather than cash activity continues; but investors have become more cautious and selective UK Retail sector: Trading in 2017 Are you ready for a perfect storm? 1
4 The margin vice tightens We started 2017 with retailers facing a perfect storm of continuing structural challenges and an increasingly difficult economic backdrop that looks set to turn further against the consumer. Growing external pressures Our survey of webcast participants showed external margin concerns increasing with good reason. The latest EY ITEM Club Report sets out two fundamental changes that will make this a watershed moment for consumers and retailers in The first is the rise in sterling and the end of the longrunning inflation holiday, which will hit both input prices and disposable income. Inflation is forecast to peak over 3% in 2017, which will in turn hit consumer spending power. Secondly, EY ITEM Club expect employment to increase by just 0.2% in 2017, compared to 1.4% last year. Wage rises also remain subdued, despite the introduction of the National Living Wage. This leaves disposable incomes falling by 0.3% in 2017 and only growing by 0.2% in The drop in consumer spending growth is delayed somewhat by consumers using their savings and lower interest rates to maintain borrowing and spending falling from 2.8% in 2016 to 1.7% in 2017 and 0.4% in Although unsecured borrowing is already running at levels close to the 2008-peak and has started to slow. 10.8% unsecured credit Year on year increase in unsecured debt to November 2016 (Bank of England) Per year Household income Forecast 22.0% overseas spending December 2016 increase in spending on foreign payment cards (Worldpay) -2-4 Household spending Source: EY Item Club 2 UK Retail sector: Trading in 2017 Are you ready for a perfect storm?
5 Continued price pressures As currency hedges run out, the impact of the weak pound on import prices will increase with the effect compounded by higher commodity prices including energy and fuel. Retailers are working with suppliers but - given the scale of price rises they will have to try pass some of this on. Some retailers will be able to off-set this with increased sales to overseas visitors or online buyers. The pound s weakness is also helping to end the long-running deflationary environment in food retail which outperformed non-food this Christmas. But although the big four supermarkets are showing signs of recovery and resilience, the discounters continue to grow sales faster and increase their market share across the sector. A note on like-for-likes We treat like-for-like sales data with caution. There is not an industry standard for reporting like-for-like sales, whilst private companies are not obliged to report their figures and will often only do so if they are positive. Hence retail surveys can be much more downbeat that reported sales. Moreover, these figures only look at the top line with very little discussion about profitability or cash. The price war isn t over and the pressure to keep prices low will only increase as disposable income falls. This pressure is already intense. A brief look backwards; Black Friday 2016 was not so much a day as a season. Promotional activity started high and rose steadily up to Christmas, reflecting the need to clear inventory before the start of the Boxing Day sales. Companies who did not participate in Black Friday tended to perform better, although it may be that these retailers did not need to take part. This is just one reason why we are cautious with regard to using like-for-like data or retail surveys to assess Christmas trading. Given that nearly half of retailers reporting had less than 3% growth and the ongoing pressures on margins - companies final results may give us a much less upbeat view than these like-for-like figures. UK Retail sector: Trading in 2017 Are you ready for a perfect storm? 3
6 New structural challenges Meanwhile, internal cost and structural pressures are not letting up and neither are consumers expectations. Many retailers are still struggling to create a profitable omnichannel model. Online sales growth, once again, contrasted with flat in-store sales and effectively rescued Christmas. However, sales channels are becoming increasingly blurred - beyond Click & Collect - as online and offline become symbiotic. It is less easy to draw the line between physical and digital when the consumer is permanently connected through smart devices and often checking prices/buying online whilst in-store. Nevertheless, many retailers are still running legacy assets and online in parallel, rather than creating an integrated model. Retailers are also contending with the unpredictable impact of BREXIT on supply and distribution channels. There is a changing regulatory landscape, including a further increase in the national living wage and a new apprenticeship levy. Rising business rates add to rising cost pressures. Yet, of course, consumers are not reducing their expectations in terms of value, convenience and fulfilment or service. Apparel in the cross-hairs Even with relatively fair economic winds, profit warnings from quoted retailers were the highest for five years in With surveys showing sales falling further in January and the margin vice tightening this will clearly put additional pressure on cash and working capital. An overwhelming majority two-third of our webcast participants named apparel retail as the sector most likely to be under pressure in It has been challenged for some time by overcapacity and certainly the falling pound adds another dimension. It will also be interesting to see how the housing market and consequently DIY and big ticket retailers - hold up if consumer confidence falls. 4 UK Retail sector: Trading in 2017 Are you ready for a perfect storm?
7 How can retailers weather and ride the storm? Efficiency gains Retailers have picked most of the low hanging fruit in efficiency improvements. There are still opportunities in supply negotiations - especially where factories have extra capacity. Some are exploring newer low cost countries, such as Cambodia, whilst others are bringing more supply closer to home to reduce lead times or changing detail to move products up or down price bands. Technology and advanced data analytics probably offer the greatest opportunities to improve efficiency. Reducing the amount of discounted stock using more scientific methods to optimise merchandising and mark down effectiveness is the biggest opportunity to protect gross margin. Retailers can also make use of technology to improve labour efficiencies and even look at Radio Frequency ID (RFID) to improve and streamline management and handling of inventory. Shaping the future Retailers also need to look at how they can shape the future. The sector is undergoing a high level of technological disruption and to remain competitive, many retailers will need a level of risk taking that was not necessary in the past. Companies need to play to win rather than not to lose. This is a difficult mental shift to make especially when companies are under pressure elsewhere. Retailers can be less confident in making changes in the areas of agile supply chain, driving actionable insights from data, understanding profitability and keeping pace with new technology. But it is in innovation that is often the toughest area to crack. UK Retail sector: Trading in 2017 Are you ready for a perfect storm? 5
8 Create new markets, target new customer needs Where to play Enter adjacent markets, serve adjacent customers Adjacent Expanding from existing business into new to the company business Disruptive Developing breakthroughs and inventing things for markets that do not yet exist Serve existing markets and customers Core Optimising existing products for existing customers Use existing products and assets Add incredmental products and assets Develop new products and assets How to win To get into this yellow zone of finding adjacent and disruptive growth, companies need to make innovation integral to their business strategy. Some retailers are starting their own start-ups - either within a traditional business or by creating a secret competitor to the parent which means being unafraid to cannibalise the core business. Indeed, mind-set rather than cash can be the biggest challenge. Companies can start by experimenting with advanced technologies relatively cheaply or can begin collaborating with start-ups and providing time and space for their own people to try-out new ideas. In this arena, retailers will need to think about talent not just in terms of digital savvy engineers but also the people who can understand the customer and apply technology. 6 UK Retail sector: Trading in 2017 Are you ready for a perfect storm?
9 How will the investor community respond? Investors are clearly approaching the sector with an increasing degree of caution. This has not stymied deal activity completely but the sector can clearly expect a more selective investor approach. Caution stalls IPOs This caution is most apparent in IPOs, where there were just four retailers coming to market in 2015 and two in This partly reflects a fall in activity in the broader IPO market, which hasn t really picked up since the 2015 General Election, due to BREXIT uncertainty and related valuation issues following the fall in sterling. Recent IPOs have performed better than the somewhat troubled class of 2014; but since BREXIT, UK retail indices have underperformed the wider market. Activity will remain subdued whilst this uncertain and unsupportive backdrop remains. How would you assess confidence in the retail sector for the year ahead? Positive: good growth prospect Cautious: but willing to invest Reluctant: unless an exception 0% Source: EY UK Retail webcast survey % 73% Selective M&A continues In contrast, the volume of retail M&A transactions has been remarkably consistent in the last three years including transformative domestic deals and interest from overseas. Last year saw less than expected investment from China but trade buyers continued to make complementary acquisitions. We expect this M&A trend to continue in 2017, unless the retail or economic landscape toughens more than expected. Plenty of high profile deals are still being mooted in the press. There are also caution especially in apparel and big ticket. There is an increased their focus on due diligence, especially in terms of a target s ability to withstand a further substantial fall in sterling, the concentration and flexibility of the supply base and their history with suppliers and price increases. UK Retail sector: Trading in 2017 Are you ready for a perfect storm? 7
10 8 UK Retail sector: Trading in 2017 Are you ready for a perfect storm?
11 Contacts Jessica Clayton Partner, Head of Retail for Transaction Advisory Services Tel: Julie Carlyle Partner, Head of Retail UK Tel: Helen Merriott Partner, Head of Retail Advisory Tel: Martin Carr Strategic Retail Advisor Tel: Christian Mole Executive Director, Transaction Diligence Tel:
12 EY Assurance Tax Transactions Advisory About EY EY is a global leader in assurance, tax, transaction and advisory services. The insights and quality services we deliver help build trust and confidence in the capital markets and in economies the world over. We develop outstanding leaders who team to deliver on our promises to all of our stakeholders. In so doing, we play a critical role in building a better working world for our people, for our clients and for our communities. EY refers to the global organization, and may refer to one or more, of the member firms of Ernst & Young Global Limited, each of which is a separate legal entity. Ernst & Young Global Limited, a UK company limited by guarantee, does not provide services to clients. For more information about our organization, please visit ey.com. Ernst & Young LLP The UK firm Ernst & Young LLP is a limited liability partnership registered in England and Wales with registered number OC and is a member firm of Ernst & Young Global Limited. Ernst & Young LLP, 1 More London Place, London, SE1 2AF Ernst & Young LLP. Published in the UK. All Rights Reserved. ED None EY indd (UK) 02/17. Artwork by Creative Services Group Design. In line with EY s commitment to minimise its impact on the environment, this document has been printed on paper with a high recycled content. Information in this publication is intended to provide only a general outline of the subjects covered. It should neither be regarded as comprehensive nor sufficient for making decisions, nor should it be used in place of professional advice. Ernst & Young LLP accepts no responsibility for any loss arising from any action taken or not taken by anyone using this material. ey.com/uk
Building and operating the UK s infrastructure. Establishing your roadmap to success
Building and operating the UK s infrastructure Establishing your roadmap to success Building for the future The UK government has issued a challenge to the sector to remedy a 50 year backlog in investment
More informationComplex contracting made simple
Complex contracting made simple Integrated legal and advisory services Complex contracting made simple Integrated legal and advisory services EY s multi-disciplinary complex service contracts team delivers
More informationUK Retail Disruption, uncertainty and strategic change. February 2016
UK Retail 2016 Disruption, uncertainty and strategic change February 2016 UK Retail 2016: Disruption, uncertainty and strategic change UK retail is a crossroads. The margin vice is tightening, it looks
More informationCOP21 and the Paris Agreement: what it means for UK businesses
COP21 and the Paris Agreement: what it means for UK businesses Climate policy update January 2016 The international agreement reached at the Paris Conference of Parties (COP21) marks a significant inflection
More informationUK Retail sector: trading in Rising to the challenge in the year ahead and beyond
UK Retail sector: trading in 2018 Rising to the challenge in the year ahead and beyond Retail: is 2018 the beginning or the end? With turbulence and disruption in the sector, what risks and opportunities
More informationIs the most valuable perspective the one you don t have? UK Business Services Industry Survey 2017
Is the most valuable perspective the one you don t have? UK Business Services Industry Survey 2017 Introduction State of the Union 2017 A lot has happened in the sector since we published our last survey
More informationWhat is next for Interbank Offered Rates?
What is next for Interbank Offered Rates? What is changing? After more than 40 years of organisations relying on Interbank Offered Rates (IBORs) as a reference rate, the London Interbank Offered Rate (LIBOR)
More informationBusiness resilience in the provider care sector. Actively adapting to a changing environment
Business in the provider care sector Actively adapting to a changing environment There has never been a greater need for a company to assess its own business and nowhere is this more true than in the provider
More informationAre you ready for a future outside of the European Union?
Are you ready for a future outside of the European Union? Key considerations for the Life Sciences sector November 2017 The UK is expected to exit the European Union from 29 March 2019. This has consequences
More informationZero clothing returns. Digital future or fairytale?
Zero clothing returns. Digital future or fairytale? 1 Executive Summary Retail is disrupted and out of balance; in the race to win with customer experience, operating costs have spiralled. Digital technologies
More informationHow robotics is changing the way accountancy firms conduct audits. Policy Pulse June 2018 compendium
How robotics is changing the way accountancy firms conduct audits Policy Pulse June 2018 compendium Eamonn McGrath UK Head of Regulatory & Public Policy Loree M. Gourley UK Director of Regulatory & Public
More informationInstitute of Global Mobility
Institute of Global Mobility Responding to changing demands: the evolution of the global mobility function October 2013 Working towards enabling strategic alignment of the Global Mobility function with
More informationIntegrated reporting. Communicating sustainable value creation
Integrated reporting Communicating sustainable value creation What is Integrated Reporting (IR)? IR is a significant evolution in corporate reporting, providing a business s investors and other principal
More informationOpen Banking: the technology revolution sweeping across the banking industry. Policy Pulse June 2018 compendium
Open Banking: the technology revolution sweeping across the banking industry Policy Pulse June 2018 compendium Eamonn McGrath UK Head of Regulatory & Public Policy Loree M. Gourley UK Director of Regulatory
More informationEY Midlands Engine Devolution Survey
EY Midlands Engine Devolution Survey The Midlands Engine: your views on how this should work Driving Midlands Growth Executive summary Over the coming years, the region s political and economic structure
More informationThe UK Modern Slavery Act What are the requirements and how should businesses respond?
The UK Modern Slavery Act 2015 What are the requirements and how should businesses respond? Introduction Modern slavery is defined as slavery, servitude, forced or compulsory labour and human trafficking
More informationSupporting local public services through change. Getting more from strategic commissioning
Supporting local public services through change Getting more from strategic commissioning The unprecedented level of public sector spending cuts and the impact on local authority budgets is well documented.
More informationHow long can you play not to lose before you eventually do?
How long can you play not to lose before you eventually do? For traditional retailers, e-commerce brings opportunities but also challenges from added cost and complexity. To succeed, think long-term and
More informationAppointing CFOs for a rapidly changing world: the role of the Audit Committee
Appointing CFOs for a rapidly changing world: the role of the Audit Committee This report is brought to you by the EY UK Centre for Board Matters, a programme for Non-Executive directors and Audit Committee
More informationSupporting local public services through change. Contract optimisation
Supporting local public services through change optimisation Getting value for money from contracts and spend with third parties is an ongoing challenge for most organisations. This is increasingly true
More informationDoes the speed of change blur or sharpen your focus?
EY Growth Barometer 2018 UK highlights Does the speed of change blur or sharpen your focus? The UK middle market may be taking stock amidst uncertainty, but growth remains firmly in their sights, fueled
More informationThe future of assurance How technology is transforming the audit
The future of assurance How technology is transforming the audit 1/6 2/6 Viewpoint Advances in technology are fundamentally changing the nature of the audit. How can auditors harness the latest technology
More informationAccelerating your financial close arrangements
Accelerating your financial close arrangements EY Think Piece Contents at a glance Local government accounting, auditing and governance preserving quality financial reporting in light of the new reporting
More informationThe viability statement. Finding opportunities in the new regulatory challenge March 2015
The viability statement Finding opportunities in the new regulatory challenge March 2015 Foreword The clock is already ticking for directors of listed 1 companies with accounting periods beginning on or
More informationEY Disruption Index Are you ahead of the curve?
EY Disruption Index Are you ahead of the curve? November 2018 Introduction Welcome to the EY Disruption Index bulletin for Q4 2018. This is the first edition of a regular publication sharing key insights
More informationSupporting local public services through change. Getting more from strategic commissioning
Supporting local public services through change Getting more from strategic commissioning Public buildings house the meeting places, books, clinical equipment, blue light vehicles, sports facilities, care
More informationIntroduction to DCF Modelling. Training course outline
Introduction to DCF Modelling Training course outline Overview This course aims to provide participants with a thorough understanding of how to build a robust financial model from start to finish. Calculations
More informationIntroduction to Financial Modelling. Training course outline
Introduction to Financial Modelling Training course outline Overview This course aims to provide participants with a thorough understanding of how to build a robust financial model from start to finish.
More informationOut with the old, in with the new. Early reflections from EY s review of December 2013 annual reports in the FTSE 350 June 2014
Out with the old, in with the new Early reflections from EY s review of December 2013 annual reports in the FTSE 350 June 2014 A year of change in corporate reporting 2013 was clearly a year of change
More informationEY s response to Building the UK financial sector s operational resilience a BoE/FCA/PRA Discussion Paper
EY s response to Building the UK financial sector s operational resilience a BoE/FCA/PRA Discussion Paper Minds made for protecting financial services When the financial services industry works well, it
More informationRisk reduction? Value creation?
The power of culture: Risk reduction? Value creation? Find out what applying a cultural lens to your organisation could reveal Measuring the effectiveness and value of culture and potential risks is one
More informationFAAS Financial Reporting Training
EY Assurance Tax Transactions Advisory Instructor profile Claire Dean is a Director in EY s UK Financial Accounting Advisory Services team where she is responsible for providing IFRS and UK GAAP training
More informationThe long and winding road to corporate governance reform
August 2017 The long and winding road to corporate governance reform A summary of the Government s response to reform the UK s corporate governance framework Introduction On 29 August 2017, the Government
More informationBest practice workshop. Training course outline
Best practice workshop Training course outline Overview This course aims to provide participants with a thorough understanding of how to construct a financial model using leading approaches towards model
More informationShareholder engagement and corporate reporting at a crossroads. February 2014
Shareholder engagement and corporate reporting at a crossroads February 2014 Will company boards, investors and auditors embrace new corporate governance changes so as to maximise the benefits to shareholders?
More informationWhen cost cutting alone isn t enough
Consumer products Of special interest to Consumer products executives Insights for 5executives When cost cutting alone isn t enough Sustainable cost reduction means knowing your culture EY s Global Consumer
More informationPayment by Results: what are the key get rights prior to launching a successful programme?
Payment by Results: what are the key get rights prior to launching a successful programme? Payment by Results: what are the key get rights prior to launching a successful programme? This paper will be
More informationSupporting local public services through change. Integrating health and social care services
Supporting local public services through change Integrating health and social care services Health and social care services should be viewed as a single, interdependent system. Services designed from this
More informationKeeping pace with innovation. Managing conduct risk in a digital era
Keeping pace with innovation Managing conduct risk in a digital era Keeping pace with innovation Managing conduct risk in a digital era Digital conduct risk The most immediate priority here for us and
More informationManaging capital. The essential guide for growth oriented companies
Managing capital The essential guide for growth oriented companies How you manage your capital today will define your competitive position tomorrow. Focusing on capital Capital is the lifeblood of every
More informationPowering the UK. Empowering UK growth, jobs and energy users through continued investment Executive summary
Powering the UK Empowering UK growth, jobs and energy users through continued investment Executive summary 2015 Foreword It s always there at the touch of a switch. But this ease disguises the huge scale
More informationGo global: positioning your family business expansion across borders. Key considerations for accelerating your growth
Go global: positioning your family business expansion across borders Key considerations for accelerating your growth 1 Stay true to your vision When looking to grow your family business, it s just as important
More informationAssessing the effectiveness of the external audit process
Assessing the effectiveness of the external audit process A guide for audit committees November 2013 Foreword This document offers practical guidance and direction for audit committees seeking to discharge
More informationInternal audit in insurance: market issues and trends
Internal audit in insurance: market issues and trends Contents 3 Legal risk The need for clarity 5 Solvency II Pillar 3 A complex process 7 Strategic risk Be prepared 9 How EY can help 1 Insurance internal
More informationThe new revenue standard
The new revenue standard Why is it so important? June 8, 2016 Agenda Overview Why should you care? The five step model Implementation challenges What should Companies be doing? Page 2 Overview Page 3 The
More informationPrivate company insights. Balancing the motivation for an IPO with the pros and cons
Private company insights Balancing the motivation for an IPO with the pros and cons 1 2 The decision of whether or not to go public is a decision that should not be taken lightly. For some private companies,
More informationAs we say robot, will our children say colleague? ey.com/betterworkingworld #BetterQuestions
As we say robot, will our children say colleague? ey.com/betterworkingworld #BetterQuestions Contents A new world of robotic process automation 2 Embracing robotics in the work place 3 Which tasks could
More informationHR: taking the right steps. UK leaving the EU
HR: taking the right steps UK leaving the EU In the face of uncertainty, can HR wait for direction? The impact on people of the referendum decision in June remains uncertain. Clarity is only likely to
More informationGo global: positioning your family business expansion across borders. Key considerations for accelerating your growth
Go global: positioning your family business expansion across borders Key considerations for accelerating your growth 1 Stay true to your vision When looking to grow your family business, it s just as important
More informationInnovation in transactions
Innovation in transactions Data and Analytics in the Transaction lifecycle Kenneth Ingram EY Transaction Analytics Markets are changing with data growth in volume, variety and velocity Business are facing
More informationHow does treasury adapt to the finance function of the future?
How does treasury adapt to the finance function of the future? October 2017 The better the question. The better the answer. The better the world works. Contents 1 2 How does treasury adapt to the finance
More informationFuture of Energy Series
Future of Energy Series Managing uncertainty in the energy sector Energy underpins every aspect of modern life, driving economic growth and prosperity and as a result has a direct link to people s standard
More informationBetter risk management. The essential guide for fast-growth companies
Better risk management The essential guide for fast-growth companies In these turbulent economic times, your ability to implement sound risk management has never been more important. Why risk management
More informationExcellence in Operations. Getting the basics right in banking
Excellence in Operations Getting the basics right in banking Getting the basics right in banking Overview Banks are currently focusing their efforts on complying with increasingly complex regulations and
More informationGrowing opportunity, growing business. EY s financial services practice in ASEAN
Growing opportunity, growing business EY s financial services practice in ASEAN Our team of almost 3,900 financial services professionals across Asia-Pacific and close to 1,700 in ASEAN connects to bring
More informationManufacturing Success
www.thinkbiggrowfast.net/manufacturingsuccess Manufacturing Success August 2014 Executive summary The Manufacturing Success report is an annual review of key trends in the UK manufacturing sector. 2014
More informationShopping through gritted teeth Retail Forecasts August 2017 Public Executive Summary
Shopping through gritted teeth Retail Forecasts August 2017 Public Executive Summary Released 12 th September 2017 Shopping through gritted teeth Recent months have seen consumer sentiment drift down but
More informationGlobal supply chain benchmarking study for the tire industry Executive summary 1
Global supply chain benchmarking study for the tire industry Executive summary Global supply chain benchmarking study for the tire industry Executive summary 1 The accelerating pace of disruption and the
More informationAnnual reporting in 2016/17: broad perspective, clear focus Aide mémoire
Annual reporting in 2016/17: broad perspective, clear focus Aide mémoire Aide mémoire This aide mémoire will help you address key considerations and challenges as you start planning and drafting your next
More informationHow can your forecasts be as connected as your consumers?
How can your forecasts be as connected as your consumers? How can you serve tomorrow s consumers if your forecasts rely on yesterday s data? As channels, markets and consumer segments become more complex
More informationBrexit: considerations for your Internal Audit operating model
Brexit: considerations for your Internal Audit operating model Next steps Brexit: considerations for your Internal Audit operating model 1 Brexit: considerations for your Internal Audit operating model
More informationEY Digital Boardroom. Overview. EY Digital Boardroom 1
EY Digital Boardroom Overview EY Digital Boardroom 1 Dear EY community, Markus Heinen Partner, Advisory Services EY GSA The disruption of finance functions is not a reality of the distant future but actually
More informationPayments the new player domain. How EY can assist
Payments the new player domain How EY can assist Payment is defined as an exchange of financial value between two parties for goods or services. Contents Current trend... 1 Importance of an end-to-end
More informationBrexit: Business Impact and Why SAP is More Relevant than Ever
SAP Point of View 2016 Brexit: Business Impact and Why SAP is More Relevant than Ever July 2016 Brexit: Business Impact and Why SAP is More Relevant than Ever 2016 SAP SE or an SAP affiliate company. All
More informationStrathclyde Partnership for Transport
Agenda item 5 Strathclyde Partnership for Transport Independent Examination of Internal Audit February 2017 Contents Page Executive summary 1 Section 1 Public sector internal audit standards 2 Section
More informationDigital agriculture: influences, trends, and opportunities among ag retailers
Digital agriculture: influences, trends, and opportunities among ag retailers Authors: Rob Dongoski Partner, Agribusiness Ernst & Young LLP US Andrew Selck Global Digital Agribusiness Ernst & Young LLP
More informationIs the future of your workforce ready now? February 2017
Is the future of your workforce ready now? February 2017 Everything about the workplace is changing, and fast, especially for oil and gas companies that face market and skills challenges never before seen.
More informationDecoding the digital home Early adopters and digital detoxers
Decoding the digital home 2019 Early adopters and digital detoxers What s happening in the digital household? Decoding the digital home 2019 is the first in a series of findings from EY annual research
More informationDriving healthy growth
Health Care Of special interest to Boards of directors The C-suite Health care executives 5Insights for executives Driving healthy growth The value of a proactive stance to compliance Organizations throughout
More informationAccelerate programme launch
Accelerate 2012 programme launch Contents Welcome 01 Accelerate: How it works 02 Overview 03 Workshop outlines 05 London dates 20 Welcome I passionately believe in Ernst & Young making the difference for
More informationSession: Why capital matters
Session: Why capital matters Tuesday, 10 May 2016 10:00 Moderator: Julie Hood Panelists: Zhu Wei I Hazimah Zainuddin 会议 : 资本为何重要 2016 年 5 月 10 日, 星期二 上午 10:00 主持人 :Julie Hood 专家组成员 :Zhu Wei I Hazimah Zainuddin
More informationBusiness Pulse. Exploring dual perspectives on the top 10 risks and opportunities in 2013 and beyond. The COO perspective
Business Pulse Exploring dual perspectives on the top 10 risks and opportunities in 2013 and beyond The COO perspective The COO perspective at a glance Your time is precious. In order to get you the insights
More informationAmericas retail report
Americas retail report Redefining loyalty for retail June 2015 Redefining loyalty for retail Today, American consumers have more shopping choices than ever before. They have access to more diverse retailers
More informationPowered by different perspectives
Pay gap report 2017 Powered by different perspectives At EY we support transparency of pay reporting Steve Varley, UK Chairman and Managing Partner, UK and Ireland We recognise that the aim of pay gap
More informationAutomotive finance. October 2014
Automotive finance October 2014 3 Automotive finance Growing in a changing environment The auto finance market has been in recovery since 2008. Record low interest rates, access to credit and new market
More informationThe shrinking treasury management system landscape TEXPO April 2017
The shrinking treasury management system landscape TEXPO 2017 April 2017 Disclaimer EY refers to the global organization, and may refer to one or more, of the member firms of Ernst & Young Global Limited,
More informationFinance for Non- Finance Executives
Finance for Non- Finance Executives Bahrain Three days Contents Introduction 04 Agenda 05 Introduction Course outline This three day course is an intensive introduction to a wide range of financial concepts
More informationAre you prepared for the FRC s latest proposals on implementing EU audit reforms?
October 2015 EU game changer Are you prepared for the FRC s latest proposals on implementing EU audit reforms? The Financial Reporting Council s (FRC s) consultation, Enhancing Confidence in Audit, was
More informationSurvive, strive or thrive?
EY Health Insight Survive, strive or thrive? Understanding resilience and sustainability Foreword Small hospitals, big challenges England s small hospitals are facing very challenging times. In 2016, all
More informationChristmas. Retail Monitor. Cracking. Christmas. in store for consumers. December
Christmas Retail Monitor 2016 Cracking Christmas in store for consumers December 2016 Value for money the key this Christmas As the festive shopping season gets into full swing, retailers remain hopeful
More informationA life sciences sector perspective
The DNA of the COO Time to claim the spotlight A life sciences sector perspective The DNA of the COO provides much-needed insight into what it takes to be a chief operating officer (COO) today. It explores
More informationForging an agile, secure supply chain
Life Sciences Of special interest to Chief operating officers Chief risk officers Vice presidents of tax Insights for 5executives Forging an agile, secure supply chain The case for combining performance
More informationDoes a disrupted Internal Audit function mean a stronger strategic partner?
Does a disrupted Internal Audit function mean a stronger strategic partner? The future of internal audit will require significant disruption to keep pace with global change. To keep pace with digital and
More informationStrategic Technology Advisory Services. Building a better working world from strategy through execution
Strategic Technology Advisory Services Building a better working world from strategy through execution Who we are EY s Strategic Technology Advisory Services (STAS) practice leverages the entire firm s
More informationCryptocurrencies and why policy makers will need to adopt crosssector. Policy Pulse June 2018 compendium
Cryptocurrencies and why policy makers will need to adopt crosssector thinking Policy Pulse June 2018 compendium Eamonn McGrath UK Head of Regulatory & Public Policy Loree M. Gourley UK Director of Regulatory
More informationAs meters get smarter, who gets the power?
As meters get smarter, who gets the power? The better the question. The better the answer. The better the world works. Of special interest to: Chief executive officers Managing directors Strategy directors
More informationTake-aways from EY s series of Internal Audit Analytics roundtables over 2016
Take-aways from EY s series of Internal Audit Analytics roundtables over 2016 2 Amsterdam Roundtable on Data Analytics for Internal Audit Over 2016 EY hosted a series of roundtables with key executives
More informationThe Ten Commandments of Information Governance & edisclosure 2015
The Ten Commandments of Information Governance & edisclosure 2015 Recent years have seen a massive increase in regulatory scrutiny, investigations and disputes, particularly in the most heavily regulated
More informationWhat role could the finance function play in a 4.0 world?
What role could the finance function play in a 4.0 world? April campaign 2017 The better the question. The better the answer. The better the world works. Contents 1 2 What role could the finance function
More informationHelping government agencies achieve mission success. Government and Public Sector (GPS)
Helping government agencies achieve mission success Government and Public Sector (GPS) Table of contents 2 Government and Public Sector (GPS) Who we are Our purpose... 4 What we do Our perspective... 8
More informationSupplier risk compliance obligation or source of competitive advantage? Improve supplier reliability to lift business performance
Supplier risk compliance obligation or source of competitive advantage? Improve supplier reliability to lift business performance Steps to reduce supplier uncertainty and uncover cost savings An unreliable
More informationReducing fraud, bribery and corruption in your private business: 6 things you can do now
Reducing fraud, bribery and corruption in your private business: 6 things you can do now 1 With an increased focus on global commitments to mitigate fraud, bribery and corruption, there remains an ongoing
More informationWhat is your ethics reputation worth at the checkout?
What is your ethics reputation worth at the checkout? How consumer products and retail companies can build on their purpose to gain a competitive edge. Ethical shopping: an aspiration or a reality? Today,
More informationContacts. About EY Catalyst TM. EY Assurance Tax Transactions Advisory
EY Assurance Tax Transactions Advisory About EY EY is a global leader in assurance, tax, transaction and advisory services. The insights and quality services we deliver help build trust and confidence
More informationThe Contribution of NSW Community Service Organisations
The Contribution of NSW Community Service Organisations December 2015 Contents 1. Context... 1 2. Research Approach... 2 3. Research Findings... 3 4. Recommendations... 5 5. Case study 1: Local Multiplier
More informationNext-generation enterprise risk management
Next-generation enterprise risk management Advancing strategy and performance in light of the COSO 2017 refresh Heading into the beginning of the year, the EY Center for Board Matters published the Top
More informationWill there be finance after digital?
Will there be finance after digital? The EY Digital Finance Lab in Eschborn, Germany brings together technology, people and innovation to help you explore how finance functions can effectively manage disruption.
More informationDriving improved supply chain results Adapting to a changing global marketplace. The COO perspective
Driving improved supply chain results Adapting to a changing global marketplace The COO perspective The COO perspective at a glance Your time is precious. In order to get you the insights you need, as
More informationOne tough customer. How Gen Z is challenging the competitive landscape and redefining omnichannel
One tough customer How Gen Z is challenging the competitive landscape and redefining omnichannel Customer focus is shifting from product to experience. Omnichannel s new frontier, experience excellence
More informationThe Quarterly. Analyst themes from advanced manufacturing earnings calls 2Q18. Confidence in markets boosts outlooks, production rates
The Quarterly Analyst themes from advanced manufacturing earnings calls 2Q18 From Jerry Gootee, EY Americas Advisory Leader, Advanced Manufacturing and Mobility Confidence in markets boosts outlooks, production
More information