PwC has produced this document to assist management teams in identifying and understanding the SEC staff's current focus areas for companies in the Retail & Consumer (R&C) industry.

The information summarized within this publication is based on comment letters published by the SEC staff between October 1, 2011 and October 1, 2012 related to R&C registrants.

We have highlighted the areas where registrants received the most comments from the SEC staff and have provided relevant examples of recent R&C comment letters to aid preparers in ensuring their disclosures are robust and consistent with the relevant accounting or reporting guidance.