Marketing and consumer trends within the retail industry change rapidly, impacting sales and earnings. Economic factors such as fluctuating unemployment and interest rates can also affect the bottom line. The retail industry can also be complex from an operational standpoint, because every company operates, captures and uses financial information differently. That is why when issues arise, it can be challenging to obtain information in a timely manner in order to accurately quantify damages.
As the world’s premier forensic accounting firm, MDD has more than 80 years’ experience working with insurance carriers and attorneys on retail related engagements.
We have been involved in claims involving consumer goods, the automotive sector, food processing companies, pharmaceutical businesses, medical device suppliers, building material manufacturers and more. Our experts have experience in all aspects related to the industry; including measuring stock and contents losses, business interruption, lost profits, extra expenses/increased costs, product liability, product recall and fraud.
With more than 40 offices across 5 continents, we have the global reach and language capabilities that are required to handle assignments of any size, in any market. What’s more, our staff have the credentials and training required to handle the specific nuances involved in quantifying retail industry losses.
MDD provides retail services such as:
- Calculating business interruption / loss profits
- Evaluating the financial records of the insured/claimant in order to calculate damages from the insurable event
- Analyzing industry data to determine the event’s impact on profits
- Examining non-loss-related events and conditions that may have affected actual sales during the impacted period
- Calculating damages solely attributable to the incident and identifying/verifying extra expenses that served to mitigate the loss of business income
- Calculating stock and contents losses, and extra expenses/increased costs
- Measuring costs related to product liability and recall
- Evaluating claims related to fraudulent activity and theft
- Providing expert witness testimony and litigation support services when necessary on behalf of both plaintiff and defendant.
Contact one of our experts below or filter experience based on region.