The current economic environment continues to challenge retailers' growth aspirations. Continued decreases in consumer spending, the lack of liquidity, and an inability to use real estate as an accessible asset are driving an increasing number of retailers into distress.
Today’s challenges only add to the industry’s traditional needs: streamlining operations; increasing revenues; managing expansion and contraction; and maintaining a positive, consistent customer experience. Whether you have restructuring or tax or audit needs, Grant Thornton’s professionals are among the most experienced in the retail industry.
Our retail professionals have participated in more than 20 retail restructuring engagements, giving them the ability to quickly assess available liquidity options — creating the breathing space for a thoughtful and strategic evaluation of operations. An analysis of each store will reveal strengths, weaknesses and opportunities that will lead to a potentially profitable, rationalized store footprint.
Our tax, audit and business advisory services professionals can help all retailers address rapidly changing accounting and operational needs. We also provide guidance on major industry transactions, including mergers, acquisitions and divestitures.
Interested in seeing how we've helped a client grow?
$1.5 billion national specialty retail chain with deteriorating margins within their supply chain operations requires operational audit.
Situation: The client had undergone several acquisitions that expanded not only their retail outlets but also their logistics and distribution network. In addition, they had invested in taking much of their manufacturing/fabrication of core products back in house. This had resulted in significant overlap and inefficiencies within their procurement and logistics functions, particularly with respect to vendor management.
Result: We used data analytics to perform a review of vendor relationships across the entire enterprise. This resulted in the re-organization and restructuring of the company’s payables function, the elimination of several redundant information technology applications, and the delivery of a common (“single source of truth”) vendor data report. All of these changes led to significant year-over-year improvement in to the cost of procurement and payables operations.
This white paper explores the areas of risk and opportunity gift cards can bring to retailers and outlines how new rules from the IRS and the Federal Reserve Board provide retailers and gift card issuers much-needed guidance.
In this new white paper, A roadmap to success: Convenience stores on the fast track, Grant Thornton explores a number of trends affecting the convenience store industry, touching on both big-picture trends and those in technical areas that may get overlooked.