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Retail and Restaurants: Second Quarter 2012

Deloitte Corporate Finance LLC


This quarter’s Retail and Restaurants Update, produced by Deloitte Corporate Finance LLC (DCF), summarizes the most recent transactions within this industry along with information on the most active buyers, current transaction valuation multiples and an overview of the public market’s perception of the industry.

Highlights include:

  • Retail spending declined for the third straight month in June, fueling fears that the economy is stalling after a strong first calendar quarter. According to data from the U.S. Census Bureau, retail sales slowed to $401.5 billion in June, a 2.5% decline compared to the recent peak in March.
  • While the U.S. unemployment rate in June remained unchanged from May at 8.2%, consumer confidence also declined from 79.3 in May to 72.0 in July on concerns about disappointing job growth in the U.S., the European financial crisis, and a shaky stock market.
  • In Q2 2012, the retail and restaurants sector witnessed 161 M&A transactions, compared to 154 transactions in Q1 2012. After a recent peak of 204 retail and restaurant transactions in Q2 2011, the number of transactions has remained largely stable over the latest four quarters, with a sharp increase in average value for disclosed transactions in Q2 2012 due to multiple large transactions.

To read more, download the Retail and Restaurants Update.


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