Sales growth rate slowing down for clothing and apparel
Raleigh, N.C., May 5, 2014— According to a report released today by financial information company Sageworks, the performance of privately held clothing stores is a bit of a mixed bag. The rate of sales growth is slowing down significantly in the most recent period, which is concerning. Year-over-year change in sales, expressed as a percentage, was less than 5 percent on average for companies filing statements in 2013. This is the lowest rate of sales growth since the recession.
On a positive note, profit margins and cash conversion cycle ratios look to be relatively healthy for clothing stores. However, if the rate of growth continues to slide in 2014, these ratios could be negatively impacted. The full report can be accessed here.
Sageworks is a financial information company and the leader in the analysis of privately held companies. The company provides risk-management solutions to financial institutions and financial analysis and benchmarking applications to accounting firms and private companies. Sageworks data and applications are used by thousands of accounting firms and financial institutions across North America and internationally.
About Our Data
Sageworks possesses a proprietary database of privately held company financial statements aggregated by industry.
Sageworks aggregates private-company financial statements from accounting firms, banks, and credit unions through a cooperative data model with their clients. The data is segmented and can be queried by 1,400 industry codes, 70 financial metrics, company size, and geographic location. Sageworks releases a quarterly Private Company Report, which provides a snapshot of U.S. private-company performance. Sageworks data and analysis has been used by most major media outlets and is featured weekly on Forbes.com through the "Sageworks Stats" blog.
An infographic from Sageworks providing an update on the health of privately held companies and their impact on the U.S. economy can be found here.
Sageworks Data & Research / Email: firstname.lastname@example.org / Phone: 919.851.7474 ext. 590 / Twitter: @sageworks