PWC news and archive

Superdry reportedly calls in PwC to oversee debt-raising options

Fashion retailer Superdry is understood to have appointed accountancy firm PricewaterhouseCoopers (PwC) to advise on debt-raising options weeks after it issued a profit warning. The London-listed company is believed to have tasked PwC with advising on its finances, according to sources for Sky News, in light of its latest pre-Christmas trading...

Business

THG Ingenuity partners with PwC to bolster e-commerce capabilities

THG Ingenuity, the technology services division of British fashion and beauty retail group THG, has announced a partnership with international professional services firm PwC to bolster digital commerce. As part of the deal, “PwC will lead on the business strategy, research, and design of the brand web stores, and Ingenuity will provide the...

RetailFeatured

UK store closures are at slowest rate since 2021, according to new report

A new report has found that store closures in the UK are currently at their slowest rate since 2014, with net closures also at their lowest level in five years. Latest figures by PwC, developed alongside the Local Data company, found that in 2022 a total of 11,530 chain outlets exited UK high streets, shopping centres and retail parks, a drop on...

Business

PwC analysis: how the metaverse is changing retail and consumer goods industry

Accounting and consulting firm PwC has analysed the impact of the metaverse on the retail and consumer goods industry. After all, the market volume of metaverse-related technologies was around 48 billion US dollars (around 40 billion pounds) in 2020 and is expected to grow at an annual rate of 43 percent until 2025. Retailers and manufacturers...

ManagementFeatured

Seasalt reports “record” Christmas sales

Cornish fashion and lifestyle brand Seasalt stores enjoyed a “record” Christmas trading period for the five weeks to January 1, 2022, with overall store revenue up 81 percent on the same period last year and “up slightly” from 2019. Total sales across online, stores and through marketplace partners were up 20 percent, compared to 2020, and up by...

Business

Boohoo looking to replace PWC

After getting caught up in a labor scandal, UK-based fast-fashion retailer Boohoo has seen shares steeply decline. Now, the company has said they are seeing an auditor to replace PricewaterhouseCoopers. As of 8:26 GMT this morning, their stocks dropped as much as 17 percent, down 14 percent to 272.20 pence. The news reported by Bloomberg. Boohoo...

Retail

A record-high number of UK store closures in 2020

A record amount of store closures were reported within the first half of 2020 due to the Covid-19 pandemic, new data reveals. So far this year, 11,120 chain operator outlets have closed, according to research by the Local Data Company and PWC UK which tracked 210,365 outlets across the UK from January to August this year. There has been over...

Report

Boohoo launches search for new auditor after PwC steps down

British online fashion retailer Boohoo is on the search for a new auditor after confirming PwC has stepped down. The fashion group said PwC, which has been the company’s auditor since 2014, has already signed an unqualified opinion on the group's 2020 financial statements, but will not continue the role moving forward. Boohoo’s audit committee...

ManagementFeatured

Black Friday, more symbolic than significant

Once upon a time there was no such event as Black Friday. No hideous throngs of rabid consumers fighting over bargains and queueing for discounts. Perhaps that day will come again. According to new data from the Holiday Outlook 2019 by PwC, which analysed the buying habits of over two thousand American consumers, the Friday following...

Fashion Featured

New report reveals everything you need to know about the streetwear market

Hypebeast, the streetwear-focused online publication, has joined forces with PriceWaterhouseCoopers (PwC) in a report offering a comprehensive overview of the streetwear market. The duo surveyed nearly 41,000 streetwear consumers around the world to learn more about their spending habits and best-selling products. They also interviewed experts...

BusinessFeatured

Why is it so hard for women to become CEOs in fashion companies?

Almost 80 percent of students at the world’s leading fashion schools are women. At apparel stores, nearly 75 percent of the workforce is female and they’re usually serving female customers, as women make about 80 percent of fashion-related purchasing decisions. Yet, only 12.5 percent of the apparel companies on the Fortune 1000 list are led by...

Management

UK's High street closures remain at historic high

London - A record number of stores disappeared from the UK’s top 500 high streets in 2018, according to PwC research compiled by the Local Data Company (LDC). In total, 3,372 shops opened, compared to 5,833 closures, meaning that the high street saw 2,481 store exits in 2018, compared to 1,772 stores in 2017. This marks the largest full year net...