Data & Press Releases
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Private retailers seeing slowdown
Raleigh, N.C., November 5, 2013—According to data from Sageworks, a financial information company, private retailers could especially use the boost from holiday sales this year. So far in 2013, privately held retailers have been growing sales at less than 1 percent. A subset of these retailers, those with less than $5 million in annual sales, is seeing a sales contraction.
“According to our data, private companies are growing more slowly in 2013 than they have in recent years. For the retail industry, the slowdown in sales growth is especially severe, down from about 7 percent growth last year to just under 1 percent in 2013. The trend among small retail companies—‘mom and pop’ retailers with less than $5 million in annual sales—is even more concerning because, so far in 2013, the average revenue for these companies is down compared to last year. They are bringing in fewer dollars than last year. These private retail companies could certainly use a boost from the upcoming holiday shopping season.” –Libby Bierman, Analyst at Sageworks
About the Data
Sageworks possesses a proprietary database of privately held company financial statements aggregated by industry. Each day, approximately 1,000 of these financial statements are collected by Sageworks from accounting firms, banks, and credit unions through a cooperative data model with Sageworks’ clients. The data is segmented and can be queried by 1,400 industry codes, 70 financial metrics, company size, and geographic location.
Raleigh, N.C.,-based Sageworks is a financial information company that provides financial analysis and industry benchmarking solutions to accounting firms. Sageworks’ data and applications are used by thousands of banks and accounting firms across North America. Sageworks provides industry data on private companies to U.S. accounting firms at no cost. The company has been named to the Inc. 500 list of the fastest growing privately held companies in the U.S. and to the Deloitte Technology Fast 500.
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