Tuesday, September 30th, 2008
The RTT agrees that the City focuses very heavily on like-for-like sales growth figures as a barometer of the success of retailers.
Tim Denison of SPSL summed this up when he said: “The City should be encouraging retailers to increase margins, not sales at any cost. Retailing is a business like every other. Unfortunately it’s far too easy to be fixated on sales figures.”
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Tuesday, September 30th, 2008
At the beginning of 2007 retailers had just enjoyed a much better than expected Christmas and many banks were prepared to commit large sums of money to highly leveraged retail transactions. As a consequence prices being paid by venture capitalists (VC) were high.
By the second half of 2007 the picture looked very different as the credit crunch developed. With a reduction in institutional liquidity in the leveraged finance markets the volume of transactions supported by banks fell, especially at the higher end of the market.
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