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Retail and Restaurants: Fourth Quarter 2012

Deloitte Corporate Finance LLC


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

Highlights include:

  • The U.S. economy unexpectedly shrank in Q4 2012, hurt by cuts in defense spending, fewer exports, and sluggish growth in inventories.
  • While many were surprised by the drop in GDP, the acceleration in consumer spending along with continued modest improvement in the jobs market, demonstrated by private-sector payroll growth of 192,000 jobs in January according to payroll processing firm ADP, has provided optimism for underlying fundamental economic strength.
  • In Q4 2012, the retail and restaurants sector experienced a significant increase in M&A activity with 220 transactions, partially driven by potential 2013 tax increases associated with the fiscal cliff.

To read more, download the Retail and Restaurants Update.

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