Tag: BDO

BRC: High Street remains under pressure

BRC: High Street remains under pressure

The British Retail Consortium (BRC) has today announced retail sales saw a slight improvement in September According to the BRC/KPMG retail sales monitor, like-for-like sales (which exclude the impact of sales at new stores) rose 0.3% on an annual basis. However, clothing sales suffered while demand for big-ticket items remained weak due to fragile consumer [...]

October 11, 2011 More
Warm weather fails to boost retailers

Warm weather fails to boost retailers

According to accountancy firm, BDO, the warm weather during September failed to boost the High Street after like-for-like sales were 4% lower last month compared with a year earlier – the biggest fall since March 2009. A report by the company said people were more interested in enjoying the warm days rather than hitting the [...]

October 10, 2011 More
Argos and Homebase sales down, Morrisons sales higher

Argos and Homebase sales down, Morrisons sales higher

There is a mixed bag of retail sales figures today after Home Retail Group announced a drop in sales at both its Argos and Homebase chains. The figures are further evidence of a cutback in consumer spending after electrical goods group, Dixons Retail, yesterday posted a fall in sales. At Argos, like-for-like sales in the [...]

September 8, 2011 | 0 Comments More
BRC: UK retail sales weak in August

BRC: UK retail sales weak in August

The British Retail Consortium (BRC) has today reported weak retail sales for August. According to the BRC, like-for-like sales (which exclude the impact of sales at new stores) fell 0.6% last month on an annual basis. Overall sales rose 1.5%, however, this was much lower than the 2.8% rise noted in August 2010. Commenting, Stephen [...]

September 6, 2011 | 0 Comments More
High Street posts worst sales for two years

High Street posts worst sales for two years

Accountancy firm BDO has warned Britain’s retailers should prepare themselves for some tough times as pressure builds on consumers in the run-up to Christmas. According to the firm’s High Street Sales Tracker, sales figures for August fell 2.2% among mid-market retailers, attributed to the riots and cooler weather during the month. The riots, in particular, [...]

September 5, 2011 | 1 Comment More
Two separate surveys reveal more economic gloom

Two separate surveys reveal more economic gloom

A survey from BDO, published today, has revealed a fall in business confidence, while a separate survey has revealed employers plan to axe jobs in the third quarter. According to the Business Trends optimism index from accountants BDO, business confidence fell to 95.1 in July from 95.6 the previous month – the lowest level for [...]

August 15, 2011 | 0 Comments More
BCC survey reveals fragile economic recovery

BCC survey reveals fragile economic recovery

A quarterly survey by the British Chambers of Commerce (BCC) revealed that the UK economy was “fragile”. The BCC’s survey for the three months to the end of June showed a slow recovery and estimates that the economy grew by 0.3% in the period – slower than the 0.5% growth in the first quarter. Commenting [...]

July 11, 2011 | 0 Comments More
BDO warns of premature interest rate rise

BDO warns of premature interest rate rise

Accountancy firm BDO has joined many other leading business groups by suggesting a premature interest rate hike could derail the economic recovery. According to the latest Business Trends report, BDO said a rise in interest rates would strengthen the pound and therefore, reduce export competitiveness, having a negative impact on manufacturing. The manufacturing sector, which [...]

March 14, 2011 | 0 Comments More
BDO optimistic about High Street sales in 2011

BDO optimistic about High Street sales in 2011

BDO, the accountancy firm, has today provided an optimistic report about the prospects for the UK High Street. Spending cuts and tax hikes has led many experts to suggest that consumers will rein in their spending, having a severe impact on retailers. However, BDO suggests that sales will grow by 3% over Christmas as shoppers [...]

November 8, 2010 | 0 Comments More
BDO calls on BoE to expand QE scheme

BDO calls on BoE to expand QE scheme

Accountancy and business advice firm BDO has warned that economic growth could grind to a halt at the start of 2011 and shrink in the second quarter. BDO is therefore calling on the Bank of England to inject more money into the economy, via its quantitative easing (QE) scheme. QE, also known as printing money, [...]

October 11, 2010 | 0 Comments More
CFO confidence falls to 18-month low

CFO confidence falls to 18-month low

Confidence among chief financial officers (CFOs) has fallen to the lowest level in 18 months. According to accountancy group Deloitte, confidence among these executives fell for the third consecutive quarter. More than a third of those surveyed said there is a risk that the economy will fall back into recession. Margaret Ewing, of Deloitte, said: [...]

Survey raises double dip fears

Survey raises double dip fears

A survey by accountancy firm, BDO LLP, has revealed business confidence has slumped to a level not seen since the height of the financial crisis two years ago. The firm’s optimism index (which reflects how businesses expect trading to develop two quarters ahead), fell from 95.5 in July to 93.1 last month. According to BDO, [...]

September 13, 2010 | 0 Comments More
Report reveals advertising budgets were cut in Q2

Report reveals advertising budgets were cut in Q2

A report by the Institute of Practitioners in Advertising (IPA) and accountants BDO has found companies slashed their marketing budgets in the April to June period. The cut backs were due to increasing concern among companies that the economy will see slower growth in the second half of 2010. The survey of 300 British companies [...]

July 12, 2010 | 0 Comments More
Survey reveals record fall in UK business confidence

Survey reveals record fall in UK business confidence

A survey among UK companies has found that confidence has plunged to a level not seen since 1995, as a result of the Government’s tough spending cuts. BDO’s Business Trends index, which covers 11,000 companies from a range of industries, slumped to 97 in May from 103.3 in April - the largest fall since the [...]

June 14, 2010 | 0 Comments More
Survey reveals manufacturing recovery is gathering pace

Survey reveals manufacturing recovery is gathering pace

A joint survey by manufacturing organisation, the Engineering Employers’ Federation (EEF) and accountancy firm, BDO, has revealed that Britain’s manufacturers are bucking the trend in the sluggish economic recovery. According to their research, an increasing amount of manufacturing firms have experienced an increase in demand from overseas markets. The balances of manufacturers reporting increases rather [...]

June 7, 2010 | 0 Comments More
Survey reveals rise in UK business confidence

Survey reveals rise in UK business confidence

A survey among UK companies has found that confidence has surged to a level not since the summer of 2006. BDO’s Business Trends index, which covered 11,000 companies from a range of industries, rose to 103.2 in March from 99.4 - the highest in almost four years. In addition, the output index grew to 102 [...]

April 12, 2010 | 0 Comments More
Advertising spend to pick up as economy recovers

Advertising spend to pick up as economy recovers

A report by the Institute of Practitioners in Advertising (IPA) and accountants BDO said advertisers continued to reduce their budgets in the fourth quarter of 2009, but the rate of decline was at its slowest in almost two years. As they economy recovers, the report suggests that budgets will rise in 2010 and comes after [...]

January 18, 2010 | 0 Comments More
Mortgage fraud industry is “booming”

Mortgage fraud industry is “booming”

Last year saw a steep rise in reported mortgage fraud, new research from BDO has revealed. During 2009 mortgage fraud accounted for 18% of all reported fraud and 27% of fraud in the UK finance and insurance sector. The accounting firm’s spokesman, Simon Bevan, comments: “It may have become more difficult for the person on [...]

January 12, 2010 | 0 Comments More
Scottish textiles mill enters administration

Scottish textiles mill enters administration

Borders-based JJ&HB Cashmere Mills, which employs 176 people, has been put into administration. The Italian-owned firm, based in Innerleithen in the Borders, is one of Scotland’s oldest cashmere manufacturers and also has operations in Coatbridge and Galashiels. However, there are hopes that a buyer can be found after joint administrator, James Stephen of BDO LLP, [...]

January 8, 2010 | 0 Comments More