Credit insurance firm Atradius has downgraded the retail sector’s performance outlook for the year ahead from ‘fair’ to ‘poor’.
Atradius has warned that economic and political uncertainty, sluggish sales growth and weak consumer confidence have hampered the sector’s 2019 outlook.
The credit insurer said factors including the increased cost of raw materials in furniture retailing, lack of innovation and longer product lifecycles in electricals, and poor buying patterns and import costs across fashion and footwear have also all hindered the sector’s performance.
Atradius forecast that after an 86% surge in the number of CVAs undertaken by retailers last year, the number of CVAs will rise a further 5% this year to 2,730.
Please sign in now if you have a subscription or are already registered with us.
Retail-Week.com provides premium, in-depth intelligence that helps retailers judge risks, spot opportunities and identify what they need to do to win in the digital economy.
Register today for a taste of our high-quality intelligence and enjoy:
Discover Retail Week register now
Please note, if you have recently purchased a subscription, it may take a few minutes before your account is updated.