I think it is good for retailers to be transparent about their financial performance. Being transparent of the financial performance to customers means anyone is able to view it without a permission. In fact, it is not only good for customers to be able to look at, but also better for their competitors, business analysts, or investors to see and judge.
In my opinion, normally customers do not spend time especially to take a look at a company’s financial statement on its website. They only hear from what is being said in the news or other social media channels when there are significant changes in operation of the company. However, whether customers will look at company’s financial performance or not, it is necessary and important for the company to be financially transparent to the public. It indicates that the company is not hiding anything unethically or illegally. No matter it is decreasing in revenue or suffered from large number of debt or not, customers would like to know how the company actually performs. Therefore, being transparent with customers also means being honest with them.
On the other hand, it is good to let the competitors and business analysts to know the company’s financial performance in order to make prediction and adjustment accordingly. As the article “The Importance Of Corporate Transparency” mentioned, “less information means less certainty for investors.” Decisions would be made if investors not not know the company well enough.
All in all, being transparent about financial performance is important and necessary to both the company and its customers, competitors, business analysts, and investors.