Record spend on Christmas advertising as companies try to stem Brexit losses

MTS STAFF WRITER | December 17, 2018

Record spend on Christmas advertising as companies try to stem Brexit losses
This is not a case of companies falling into the age-old trap of spending more than intended on Christmas. We believe there is something deeper going on in the way that companies are dealing with the uncertainty of Brexit and are trying to balance their books accordingly. The Christmas season is a make or breaks time for many retailers and their advertising spends often reflects this. But, in the last two years, last-minute Christmas splurges have followed a noticeably prolonged period of low spending. This trend attracted our attention. In our accounting research, we found that managers of companies prefer to reduce advertising expenses to make their annual earnings figures look stronger. By controlling their spending at certain times of the year, companies can keep their balance sheets looking healthy and show shareholders that they can efficiently meet or beat the forecasts made by financial analysts.

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