The better the question. The better the answer. The better the world works. У вас есть вопрос? У нас есть ответ. Решая сложные задачи бизнеса, мы улучшаем мир. У вас є запитання? У нас є відповідь. Вирішуючи складні завдання бізнесу, ми змінюємо світ на краще. Meilleure la question, meilleure la réponse. Pour un monde meilleur. 問題越好。答案越好。商業世界越美好。 问题越好。答案越好。商业世界越美好。


  • General retailers

    Retail warnings hit seven-year high

    In Q3 2018, FTSE General Retailers issued eight profit warnings, the joint-highest third quarter since the financial crisis. In the first nine months of 2018, the sector has already surpassed 2017’s total number of profit warnings, with a third of FTSE General Retailers warning in the year-to-date. Retailers have contended with a year of weather extremes. But, come rain or shine, we anticipate one of the most demanding ‘golden’ quarters in many years.


    A tough ‘golden’ quarter ahead for retailers

    Half of the sector’s profit warnings in the third quarter cited this summer’s heatwave. But, the retail sector has more fundamental issues. Disposable incomes are finally rising, but consumer confidence is falling. Retail sales fell back in September and it may be hard to drive volumes between now and Black Friday. Jessica Clayton discusses profit warnings in the Retail sector.

  • Travel & Leisure

    Cruel summer for the travel sector

    FTSE Travel & Leisure companies issued seven profit warnings in Q3 2018, the highest third-quarter total for two years. In the last 12 months, a quarter of the FTSE sector has warned. This sector covers companies as diverse as airlines, bars and online gambling. What ties them together is an intense fight for disposal income in often oversupplied and highly competitive markets, where margins are accordingly tight. It’s this kind of structural vulnerability that leaves companies open to profit warnings when market conditions change.


    A cruel summer in travel, whilst headwinds hit gambling

    The heatwave and rising oil prices have triggered profit warnings in the Travel & Tourism and Airlines sub-sectors, which contributed seven out of the 17 sector warnings issued in the first nine months of 2018. But, even before the summer, overcapacity was limiting airlines’ ability to drive up profitability. Jon Morris discusses the profit warnings in the Travel & Leisure sector.

Contact us:

Alan Hudson

UK&I Head of Restructuring

Jon Morris

Partner, UK&I Restructuring

Lee Watson

Partner, UK&I Restructuring

Kirsten Tompkins

Market Analyst and Author