Market Uncertainty Clouds Retail CFOs’ 2016 Outlook: BDO Survey

CHICAGO–(BUSINESS WIRE)–According to a new BDO
USA, LLP survey, retail CFOs predict a 3.4 percent increase in total
sales for 2016. This is the second consecutive year that the total store
sales projection has dipped since the spike to 5.1 percent in 2014. A
notable decline in the number of CFOs expecting consumer confidence to
increase was also revealed, which dropped nearly 50 percent year over
year.

“Global market volatility, which twice as many CFOs this year said would
impact consumer confidence, is certainly contributing to the softening
projections,” says Doug
Hart, partner in the Consumer
Business practice at BDO.
“In the face of these concerns, the majority of retailers do remain
optimistic, which could be a sign that they’re holding out hope that the
combination of low energy prices, low inflation and an improving jobs
market will encourage consumers to open their wallets.”

Contacts

Bliss Integrated Communication
Emily Dell, 212-584-5483
Emily@BlissIntegrated.com
@BDOConsumer