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Deloitte

  • Deloitte forecasts a happy holiday, with 9% increase in spending on gifts

    New York -- Shoppers plan to spend more during the upcoming holiday season with omnichannel shoppers having even higher spending expectations. According to Deloitte’s 29th annual holiday survey, total holiday spending is predicted to increase by 13% to $1,299 per household, including gifts, socializing away from home, entertaining at home, non-gift clothing for family or self, home/holiday furnishings, and any other holiday-related spending not in the other categories.  
  • Tesco chair to step down as net income plummets below estimates

    Cheshunt, U.K. –- Sir Richard Broadbent, chairman of Tesco PLC, will step down in the wake of a 99% drop in net income for the first half of fiscal 2014. Tesco reported first half profits of $9.6 million, about $333 million less than previous estimates.  
  • Embracing the Future

    With the retail CFO’s role evolving so quickly in the last few years, what changes will the future bring? Look for CFOs to be hired from outside the company, oversee more divisions and spend significant time overseas in an increasingly global retail world.

    The finance function, of course, will continue to be critical, especially for public companies.

    Also the CFO role may encroach further on operations, particularly in an era of consolidation — store closures necessitated by mergers likely will fall under the domain of the CFO.

  • Expanding Role of the CFO

    Strategist, adviser, communicator, futurist: Retail chief financial officers have seen their role broaden so much in recent years that, in some cases, they have become virtual partners with the CEO. Once responsible primarily for financial stewardship, the CFO is embracing a growing number of additional roles encompassing strategic planning, technology and perhaps even a bit of crystal ball gazing.

  • Deloitte: Total holiday sales to rise 4% to 4.5%; non-store sales up 14%

    New York -- Total holiday sales are expected to rise 4% to 4.5% over last season, totaling between $981 and $986 billion, according to Deloitte’s annual retail holiday sales forecast. The growth represents a moderate improvement over last year’s 2.8% gain.

    Additionally, Deloitte forecasts a 13.5% to 14% increase in non-store sales in the online and mail order channels during the 2014 holiday season.  

  • Deloitte forecasts boost in this year’s retail holiday sales

    According to Deloitte’s annual retail holiday sales forecast, steadily improving economic fundamentals should moderately boost holiday sales in stores and online this year.

  • Report: Tesco suspends execs who overstated profit

    New York -- British supermarket retailer Tesco suspended four executives, including its U.K. managing director, after revealing that its half-year profit was overstated by $407 million, the BBC reported. The retailer has launched an investigation headed by Deloitte.

    Tesco CEO Dave Lewis, who took over the struggling company in September, said the decision to ask employees to stand aside was not an indication of guilt or that disciplinary action was warranted. He declined to speculate on what the investigation might turn up.

     

  • Plug and Play Holds Quarterly Pitch Competition Event

    Plug and Play, a business accelerator that specializes in tech startups, is holding its quarterly pitch competition event on its campus in Sunnyvale, California, on Thursday, September 18, from 9:30 a.m. to 7 p.m. PDT. The Plug and Play Fall Expo 2014 will feature 40-plus startup pitches, panel discussions and corporate networking. Chain Store Age will be in attendance — watch for a recap in the next edition of Customer Disruption!

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