Each week, Retail Insight Network’s journalists pick out insights from company filings that highlight sentiments in our sector. These filings signals are based on GlobalData’s analysis of earnings statements, call transcripts, investor presentations and sustainability reports. They tell us about key topics on the minds of business leaders and investors, and the themes driving a company’s activities.  

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There has been a steady decrease in mentions of geopolitical concerns across company filings in retail, according to analysis by GlobalData. This declining trend reflects the pattern of mentions around Ukraine, as the conflict continues into its second year.  

This downward trend commenced after the significant spike in mentions in Q2 2022, as filings reflected the implications of Russia’s invasion of Ukraine on 24 February 2022. International concern drove an identified 36,211 geopolitical mentions in retail in that quarter, up from 12,766 in Q4 2021, prior to the invasion.  

The retail sector was initially seriously impacted by the conflict, which interrupted supply chains, prompted energy prices to soar, and reduced the availability of raw materials. However, filings suggest a significant decrease in concern for companies globally, and mentions have now dropped to the lowest in over two years. Geopolitics received only 5,834 mentions in Q2 2023, fewer than before the conflict.

Mentions of Ukraine identified in company filings also track this trend, with 1,249 in Q2 2022, down to 428 in Q2 2023. Despite the continuation of the conflict, companies have adjusted and the initial disruption to the retail sector has stabilized, resulting in new priorities.  

Where geopolitics has seen a general decline, the theme of environmental, social and governance has seen recent growth, overtaking geopolitics in the number of mentions across company filings. The environment was mentioned 11,658 times in Q2 2023, whilst governance was mentioned 10,482.